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प्रश्न
What is a Provident Fund Scheme?
Briefly explain Provident Fund.
संक्षेप में उत्तर
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उत्तर
- Under the Employees' Provident Funds and Miscellaneous Provisions Act, the Central Government has established the provident fund scheme for employees.
- Every employee is entitled to become a member of the scheme after completing three months of continuous service.
- The employee and the employer contribute every month ten percent of the basic wages. The total contributions are invested in specified investments.
- The accumulated amount of standing credit to an employee is payable upon retirement, death, or at the time of leaving service.
- An employee can get advances and permanent withdrawals for construction of house, marriage of dependents and other specified purposes, like serious illness.
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Social Security in India
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
संबंधित प्रश्न
A voluntary payment made by an employer to an employee who retires after long and dedicated services is ______.
The National Pension Scheme seeks to provide old-age security to the citizens.
Write a short note on Social Security.
Amount of ______ is paid once in lump sum whereas ______ is paid every month.
NPS stands for ______.
Briefly explain the term Pension?
Mention any two advantages of group life insurance to employees.
| Mr. Khanna, a manager in a public limited company, is turning sixty years of age and is about to retire from the organisation after a long and dedicated service. |
In this context answer the following:
- Name any two Acts pertaining to Mr. Khanna's retirement.
- Discuss the reasons why these two Acts need to be effected in organisations.
Distinguish between Provident Fund and Pension.
Distinguish between social insurance and social assistance
