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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 nation, in conjunction with the Employees' State ...
Malaysian EPF was established in 1 October 1951 [2] pursuant to the Employees Provident Fund Ordinance 1951, under the National Director of Posts. This law became the EPF Act 1951. In 1982, then the EPF Act 1991 in 1991. The EPF Act 1991 [3] requires employees and their employers to contribute towards their retirement savings, and allows workers to withdraw these savings at retirement or for ...
The Public Provident Fund ( PPF) is a savings-cum-tax-saving 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 by offering an investment with reasonable returns combined with income tax benefits. [2] The scheme is offered by the Central Government. Balance in the PPF account is not ...
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The National Pension System ( NPS) is a defined-contribution pension system in India regulated by the Pension Fund Regulatory and Development Authority (PFRDA) which is under the jurisdiction of the Ministry of Finance of the Government of India. [1] National Pension System Trust ( NPS Trust) was established by PFRDA as per the provisions of the Indian Trusts Act of 1882 to take care of the ...
British colonial authorities in Singapore implemented a proposal by David Marshall via the Progressive Party committee, to create the Central Provident Fund in 1955 as a compulsory savings scheme to assist workers in retirement provision [6] without needing to introduce a more extensive and costly old age pension, as was the norm in Britain at the time. Money contributed to the Central ...
The department is mainly concerned with the formulation of policies regarding the post-retirement benefits of Central Government employees covered under the CCS (Pension) Rules, 1972. It also administers various welfare schemes for central government pensioners, i.e., redressal for Pensioners' grievances through CPENGRAM, an online pension sanction module for civil pensioners "Bhavishya ...
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