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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 Employees' Trust Fund (ETF) is a social security programme established on 1 March 1981 under the Act No.46 of 1980 by the Parliament of the Sri Lanka. [ 1 ] Contribution
Singapore – Central Provident Fund; South Korea – National Pension Service; Sri Lanka – Employees' Provident Fund (Sri Lanka) and Employees' Trust Fund; Sweden – Social security in Sweden; Switzerland – Pension system in Switzerland; United Kingdom: Pensions in the United Kingdom; Self-invested personal pensions; United States: Public ...
Private provident funds existed in the private sector, with some companies contributing on a voluntary basis until 1958, when the Employees' Provident Fund was established by S. W. R. D. Bandaranaike following the enactment of the Employees' Provident Fund Act No 15 of 1958 which established the Employees' Provident Fund which made it compulsory for all employers and employees to contribute if ...
The Employees' Provident Fund Organisation (EPFO) holds a pivotal role in India's social security system, dedicated to ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds in the ...
The concept of registration of persons and issuing identity cards was the subject of an agreement made between India and Sri Lanka in 1954, The draft bill submitted to the Sri Lankan parliament in 1962 was passed as the Act of Registration of Persons No. 32 of 1968. With the aim of activating the provisions of this Act, the Department of ...
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.
Sri Lanka Cashew Corporation; Sri Lanka Cement Corporation; Sri Lanka Export Credit Insurance Corporation; Sri Lanka Handicrafts Board; Sri Lanka Land Reclamation & Development Corporation; Sri Lanka Ports Authority; Sri Lanka Railway Authority; Sri Lanka Rubber Manufacturing Export Co. Ltd; Sri Lanka Rupavahini Corporation; Sri Lanka State ...