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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 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 ...
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 ]
Provident fund is another name for pension fund.Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments.
Rs· 5000 if tax is filed after due date of 31 August but on before 31 December of that assessment year (in this case 31 December 2019) Rs· 10,000 if tax is filed after 31 December but on or before 31 March of the relevant assessment year (in this case from 1 January to 31 March 2020. Rs· 1000 if total income does not exceeds Rs· 5,00,000
Employees Provident Fund: $240 [31] 2023: 1951: Non-commodity Netherlands: Stichting Pensioenfonds Zorg en Welzijn (PFZW, formerly PGGM) $183 [32] (€162) 2022: 1969: Non-commodity Sweden: AP-funds $182 [33] 2023 1960 Taxation Chile: AFP: $160 [34] 2014: 1980: Non-commodity India: Employees' Provident Fund Organisation (EPFO) $228 [35] 2019: ...
The history of Provident Fund (PF) in Nepal dates back to 1934 when the PF scheme came into existence with the establishment of Sainik Drabya Kosh (Army Provident Fund) during the Rana Regime. [4] The scheme was initiated with the intentions of removing financial hardships to the army personnel after their retirement. Under the scheme, the army ...