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Questions
Write a short note on Social Security.
Explain the term social security.
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Solution
Social Security is the protection which society provides for its members through a series of public measures against economic and social distress that would otherwise cause substantial reduction or stoppage in earnings due to sickness, maternity, injury unemployment, old age, death, etc.
Some Social Security schemes in India are Provident fund scheme.
- pension scheme
- maternity benefits
- Group insurance.
RELATED QUESTIONS
A voluntary payment made by an employer to an employee who retires after long and dedicated services is ______.
Social security implies measures to protect workers against distress caused by ______.
What is a Provident Fund Scheme?
Why is 'Gratuity' given by an employer to an employee?
What do you mean by group life insurance?
Mention any two ways by which employees get social security.
Explain any two social security measures adopted in India.
Explain the benefits provided by employers to employees under the Maternity Benefit Act.
| 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.
