Question

what is provident fund ? what are the types of PF ? ​

Answer 1

Answer:

PF stands for Provident Fund. It is a scheme for salaried employees to invest during work life and enjoy the benefits after retirement. It is a compulsory, government-managed retirement savings strategy for employees, who can contribute a part of their savings towards their pension fund, every month.

Employees' provident fund is classified into 4 categories: Statutory Provident Fund, Recognized Provident Fund, Unrecognized Provident Fund and Public Provident Fund.

Answer 2

Answer:

Employees' provident fund is classified into 4 categories: Statutory Provident Fund, Recognized Provident Fund, Unrecognized Provident Fund and Public Provident Fund.

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