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Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:
1. It is the main scheme under the Employees' State Insurance Act, 1948.
2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.
3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.
Which of the statements given above is/are correct?
- a)1 and 2 only
- b)2 only
- c)2 and 3 only
- d)1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding Employee’s Provident...
- Employees’ Provident Funds (EPF) Scheme is the main scheme under the Employees’ Provident Funds and Miscellaneous Act, 1952. Hence, statement 1 is not correct.
- It offers the institution of provident funds for factory employees and other establishments.
- The employee and employer each contribute 12% of the employee’s basic salary and dearness allowance towards EPF. Hence, statement 2 is correct.
- The Economic Survey 2016-17 had suggested that employees be allowed to choose whether or not to save 12% of their salary into EPF or keep it as take home pay.
- As per current laws, a person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs. 15,000. Hence, statement 3 is correct.
Most Upvoted Answer
Consider the following statements regarding Employee’s Provident...
:
1. Employee engagement refers to the extent to which employees are committed to their work and the organization.
2. Employee engagement can be measured through surveys, employee feedback, and performance metrics.
3. Engaged employees are more likely to be productive, motivated, and satisfied in their roles.
4. Employee engagement is solely the responsibility of the employee and cannot be influenced by the organization.
5. Employee engagement can be improved through effective communication, recognition and rewards, and providing opportunities for growth and development.
6. Organizations with high levels of employee engagement tend to have lower turnover rates and higher levels of customer satisfaction.
7. Employee engagement is a continuous process that requires ongoing effort and attention from both the organization and the employee.
1. Employee engagement refers to the extent to which employees are committed to their work and the organization.
2. Employee engagement can be measured through surveys, employee feedback, and performance metrics.
3. Engaged employees are more likely to be productive, motivated, and satisfied in their roles.
4. Employee engagement is solely the responsibility of the employee and cannot be influenced by the organization.
5. Employee engagement can be improved through effective communication, recognition and rewards, and providing opportunities for growth and development.
6. Organizations with high levels of employee engagement tend to have lower turnover rates and higher levels of customer satisfaction.
7. Employee engagement is a continuous process that requires ongoing effort and attention from both the organization and the employee.
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Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding Employee’s Provident Fund (EPF) Scheme:1. It is the main scheme under the Employees State Insurance Act, 1948.2. Under this scheme, both the employee and employer contribute 12% of the employee’s basic salary and dearness allowance towards EPF.3. A person mandatorily becomes a member of EPF if his monthly salary does not exceed Rs.15,000.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs.
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