B Com Exam > B Com Videos > Industrial Laws > Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial
Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial Video Lecture | Industrial Laws - B Com
|
54 videos|46 docs|18 tests
|
FAQs on Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial Video Lecture - Industrial Laws - B Com
| 1. What is the Employees' Provident Fund (EPF)? |  |
Ans. The Employees' Provident Fund (EPF) is a social security scheme established under the Employees' Provident Fund & Miscellaneous Provision Act (1952). It is a compulsory savings scheme for employees in India, wherein a portion of their salary is deducted and contributed towards the EPF. This fund is designed to provide financial security and stability to employees after their retirement.
| 2. How does the Employees' Provident Fund (EPF) work? | |
Ans. The EPF is a contributory scheme, where both the employee and employer contribute a fixed percentage of the employee's salary to the EPF account. The employee's contribution is deducted from their salary, and the employer matches the contribution. The accumulated funds in the EPF account earn interest, and the employee can withdraw the amount at retirement or in certain specified circumstances, such as purchasing a house or medical emergencies.
| 3. What are the benefits of the Employees' Provident Fund (EPF) scheme? | |
Ans. The EPF scheme offers several benefits to employees. Firstly, it acts as a retirement savings plan, ensuring financial security after retirement. Secondly, it helps in building long-term savings, as the accumulated amount earns interest over time. Moreover, the EPF scheme provides financial assistance in times of need, such as medical emergencies or purchasing a house. Lastly, the contributions towards EPF are eligible for tax benefits under certain conditions.
| 4. How can I check my EPF balance online? | |
Ans. To check your EPF balance online, you can visit the official website of the Employees' Provident Fund Organisation (EPFO) and follow the steps mentioned for online balance inquiry. You will need to provide your EPF account number, which can be obtained from your employer, along with other required details. Alternatively, you can also download the EPFO mobile app and check your EPF balance through it.
| 5. Can I withdraw my EPF funds before retirement? | |
Ans. Yes, you can withdraw your EPF funds before retirement under certain circumstances. The EPF scheme allows partial withdrawals for specific purposes such as higher education, marriage, house construction, or medical emergencies. However, there are certain conditions and limits on the amount that can be withdrawn. It is advisable to consult the EPFO guidelines or your employer for detailed information on the withdrawal process and eligibility criteria.
Related Exams
About this Video
|
4.89/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial for B Com 2024 is part of Industrial Laws preparation.
The notes and questions for Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial have been prepared according to the B Com exam syllabus.
Information about Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial.
Introduction of Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial in English is available as part of our Industrial Laws for B Com & Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial in
Hindi for Industrial Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial Video Lecture | Industrial Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Industrial Laws.
Information about Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial
Here you can find the meaning of Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial defined & explained in the simplest way possible.
Besides explaining types of Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial theory, EduRev gives you an ample number of questions to practice Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial tests,
examples and also practice B Com tests.
|
54 videos|46 docs|18 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
ppt
,Industrial Video Lecture | Industrial Laws - B Com
,Extra Questions
,Semester Notes
,practice quizzes
,Viva Questions
,MCQs
,Objective type Questions
,study material
,Free
,Exam
,Industrial Video Lecture | Industrial Laws - B Com
,Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952)
,past year papers
,Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952)
,Industrial Video Lecture | Industrial Laws - B Com
,video lectures
,Sample Paper
,Summary
,Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952)
,Important questions
,mock tests for examination
,Previous Year Questions with Solutions
,shortcuts and tricks
;
Study Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial on the App
Students of B Com can study Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Employees pension scheme - Employees Provident Fund & Miscellaneous Provision Act(1952), Industrial is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup