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The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike , [ 3 ] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [ 4 ]
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India; Employees Provident Fund (Malaysia)
The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [8] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
The Government of Sri Lanka (GoSL) (Sinhala: ශ්රී ලංකා රජය, romanized: Śrī Laṅkā Rajaya; Tamil: இலங்கை அரசாங்கம், romanized: Ilaṇkai Aracāṅkam) is a Semi-presidential republic determined by the Sri Lankan Constitution.
The Ministry of Home Affairs (Sinhala: ස්වදේශ කටයුතු අමාත්යාංශය Swadēsha Katayuthu Amathyanshaya; Tamil ...
The Gazette is published in Sinhalese, Tamil, and English which are the three official languages of Sri Lanka. It publishes promulgated bills, presidential decrees, governmental ordinances, major legal acts as well as vacancies, government exams, requests for tender, changes of names, company registrations and deregistrations, land restitution notices, liquor licence applications, transport ...