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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 Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
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 Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka. [2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process.
The Sri Lanka Bureau of Foreign Employment (SLBFE) is a government agency of Sri Lanka, tasked with overseeing overseas employment of Sri Lankan Citizens and their welfare. It was established in 1985, under the provisions of the Sri Lanka Bureau of Foreign Employment Act. No. 21 of 1985 from which it derives its remit and powers. [1]
Amãna Bank is the first and only licensed commercial bank in Sri Lanka to conduct all its operations under the principles of Islamic banking and be fully disengaged from interest based transactions, offering the full spectrum of retail banking, SME banking, corporate banking, treasury and trade finance services.
In 2020, Singer (Sri Lanka) emerged as the market-leading seller for Dell laptops in Sri Lanka. [9] Due to the COVID-19 pandemic , increased incidences of remote work and distance education arrangements, the demand for consumer electronics rose and the company posted LKR16.7 billion in sales in the second quarter of 2020. [ 10 ]
Sri Lanka had an internet user base of about 6 million as of July 2016, about 28.2% of the population. [1] Despite being a developing country, the E-commerce industry has been receiving funding over the span of 10 years. [2] Market conditions in Sri Lanka are similar to those in India, as cash on delivery is the most preferred payment method ...