What is EPF PPT?

It is implemented by the EMPLOYEES PROVIDEND FUND ORGANIZATION (EPFO) OF INDIA. MEANING OF EPF “The employees provident fund is compulsory contributory fund for the future of the employee after his retirement or for his dependents on the case of his early death” 5.

What is provident fund Slideshare?

The Employee’s Provident Fund Act 1952 Introduction • Provident Fund has come into force to give better future to employees on their retirement & his dependants in case of his death during employment • The Employees Provident Funds Act 1952 is compulsory contributory fund for the future of an employee after retirement …

What are the objectives of EPF 1952?

1952 aims to provide a kind of social security to the industrial workers. The Act mainly provides retirement or old age benefits, such as Provident Fund, Superannuation Pension, Invalidation Pen- sion, Family Pension and Deposit-Linked Insurance.

What was the Employees Provident Fund Act of 1952?

The Employees’ Provident Fund (EPF) is a savings tool for the workforce. It is a scheme managed under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, by the Employees’ Provident Fund Organization (EPFO).

What is the PPT on EPF Act 1952?

Hecontributes 12% of his basicsalary towards PF which ismatched equally by one’scompany, (EPF contribution is3.67%, EPS 8.67%). In this case,over the course of 35 years of hisworking life, his totalcontribution is Rs. 26.01Lakhs. Of course, his companymakes a contribution of Rs.7.955 Lakhs, total contributionof Rs 33.967 lakh.

What was the name of the employees pension scheme in 1952?

4.  Employees’ Provident Funds Scheme, 1952 Employees’ Deposit-Linked Insurance Scheme, 1976 (EDLI) and Employees’ Pension Scheme, 1995 (EPS) (Earlier the Employees’ Family Pension Scheme, 1971)

Is there a limit on ppt in EPF?

CAN ALSO BECOME MEMBER OF THE FUND AND THE SCHEMES ON JOINT REQUEST AND IF, FOR INSTANCE, SUCH UNDER EMPLOYEES’ DEPOSIT- AN EMPLOYEE IS GETTING Rs.10,000 PER LINKED INSURANCE SCHEME THE MONTH, HIS SHARE TOWARDS CONTRIBUTION @ 0.50% IS REQUIRED PROVINDENT FUNDCONTRIBUTION TO BE PAID UPTO A MAXIMUM LIMIT WILL BE Rs.1200 e.g. 12% AND OF Rs.6500.