what is provident fund..??
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A provident fund is a government-managed, mandatory retirement savings scheme used in India, Singapore, and other developing nations. ... A worker gives a portion of his/her salary to the provident fund, and an employer should make a contribution on behalf of the employees.
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Employees Provident Fund (EPF) is a scheme in which retirement benefits are accumulated. Under the scheme, an employee has to pay a certain contribution towards the scheme and an equal contribution is paid by the employer.
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