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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.
Employees' State Insurance Corporation (abbreviated as ESIC) is one of the two main statutory social security bodies under the ownership of Ministry of Labour and Employment, Government of India, the other being the Employees' Provident Fund Organisation. The fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948.
Coal Mines Provident Fund Organisation (CMPF) is an agency of the Indian government established in 1948 under The Coal Mines Provident Fund and Miscellaneous Provisions Act 1948. [1] It serves as the official pension fund of coal miners and is financed by coal producers on a per-tonne basis. [2] The fund pays the pensions of about 500,000 former coal miners, and has been considered financially ...
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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This mandatory scheme is part of the Social Security system in India that covers all employees of the private sector and employees of state owned companies. It is run by the social security body Employees' Provident Fund Organisation (EPFO).
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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 concerned, although both types involve lump sum payments at the ...