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प्रश्न
Distinguish between Provident Fund and Pension.
Mention any two differences between Provident Fund and Pension.
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उत्तर
- Contributions: In standard provident fund schemes (like the EPF in India), a percentage of the basic salary is deducted from the employee, and the employer matches it. However, for the pension component (like the Employee Pension Scheme - EPS), the funding typically comes from diverting a portion of the employer's contribution, meaning the employee does not make a direct out-of-pocket contribution strictly for the pension.
- Payout Structure: This is the fundamental financial difference between the two. A Provident Fund acts as a forced savings account that yields a single, large lump-sum payout upon retirement. A Pension is an annuity designed to provide a steady, recurring monthly income post-retirement.
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संबंधित प्रश्न
A voluntary payment made by an employer to an employee who retires after long and dedicated services is ______.
When the Principal of a school retires, the vice - principal is given her place. Identify which of the following will be true in this context.
- The vice-principal is being transferred
- The vice-principal will be getting a higher salary
- The vice-principal is getting promoted
- The vice-principal will be getting the same salary but her designation will change
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Social security implies measures to protect workers against distress caused by ______.
What is a Provident Fund Scheme?
Mention any two ways by which employees get social security.
Explain the benefits provided by employers to employees under the Employees State Insurance Act.
Explain the benefits provided by employers to employees under the Maternity Benefit Act.
State any three features of Group Insurance.
Distinguish between social insurance and social assistance.
