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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 Employees' Provident Fund Organisation (EPFO) is one of the two main social security organization under the Government of India's Ministry of Labour and Employment and is responsible for regulation and management of provident funds in India, the other being Employees' State Insurance. The EPFO administers the retirement plan for employees ...
The Public Provident Fund (PPF) is a voluntary savings-cum-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
Provident fund. 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. As far as differences between gratuity and provident funds are ...
National Superannuation Fund. The National Superannuation Fund (NASFUND) of Papua New Guinea (PNG) was established in May 2002, as the successor entity to the National Provident Fund (NPF). It is the largest private sector superannuation fund in PNG. [1] In 2016, NASFUND reported net assets of PGK4.22 billion, representing a 28% growth on 2015.
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 ]
Pag-IBIG Fund was founded by virtue of Presidential Decree No. 1530 [1][2] which was signed by President Ferdinand E. Marcos on June 11, 1978, to answer the national need for savings program and affordable housing financing. [3] Its original purpose was solely as a provident fund to encourage savings among Filipinos.
The social security scheme dates back to 1945 where all social security issues were handled by the NPF. The National Provident Fund Act was enacted in 1964 [6] and amended in 1968. [citation needed] The NPF became defunct in 1997 and the Act of Parliament No. 28 of 1997 replaced the NPF with the NSSF. [7]