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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 Ministry of Labour & Employment is one of the oldest and most important Ministries of the Government of India. This is an India's federal ministry which is responsible for enforcement of labour laws in general and legislations related to a worker's social security. [2] The Ministry aims to create a healthy work environment for higher ...
Aadhaar ( Hindi: आधार, lit. 'base, foundation'; sometimes informally called UIDAI ID or UIDAI Number) [7] is a 12-digit unique identity number that can be obtained voluntarily by all residents of India, based on their biometrics (10 finger prints, 2 iris prints and photo of face) and demographic data. [8] The data is collected by the ...
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 National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who ...
The entire 12% contribution of the employee goes towards the Employees’ Provident Fund Scheme (EPF), while from the employer's share of 12%, 3.67% goes to the Employees’ Provident Fund and 8.33% goes towards the Employees’ Pension Scheme (EPS) along with 1% contribution of the government while 0.5% contribution of the employer goes to the ...
A permanent account number ( PAN) is a ten-character alphanumeric identifier Foundational ID, issued in the form of a laminated "PAN card", by the Indian Income Tax Department, to any person who applies for it or to whom the department allots the number without an application. It can also be obtained in the form of a PDF file known as e-PAN ...
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