Social Sciences, asked by riya15042006, 8 months ago

what is provident fund ??​

Answers

Answered by beheraarundhati1998
4

Answer:

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.

Answered by Iamtavisha
7

An investment fund contributed to by employees, employers, and (sometimes) the state, out of which a lump sum is provided to each employee on retirement is known as provident fund.

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