Open AccessEmployees Providenet Fund with Special Reference To Mando India Automotive, Chennai
Author(s) -
Ms Pavithra,
Gowtham Ashirvad,
Sangeetha Sytudent
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.b1364.0882s819
Subject(s) - sustenance , business , christian ministry , government (linguistics) , work (physics) , spare part , statutory law , finance , marketing , engineering , political science , law , mechanical engineering , philosophy , linguistics
Representative Provident Fund (EPF) is executed by the Employees Provident Fund Organization (EPFO) of India. An opportune store is made with a reason for giving monetary security and solidness representatives. For the most part one contributes in these assets when one begins as worker, the commitments are made all the time (month to month by and large). Its motivation is to enable representatives to spare a small amount of their pay each month, to be utilized in an occasion that the worker is briefly or never again fit to work or at retirement. The ventures made by various individuals/workers are pooled together and contributed by a trust. A foundation with at least 20 laborers working in any of the 180+ ventures should enlist with EPFO. Ordinarily 12% of the Basic, DA, and money estimation of sustenance recompenses must be added to the EPF account. EPFO is a statutory body of the Indian Government under Labor and Employment Ministry