It is a scheme for the benefit of employees,

In this scheme ,

  • Certain amount is deducted from employee salary .
  • Some amount is also contributed by Employer (Company)
  • Both Employer and Employee Contrubution is invested
  • Every year Interest is earned on amount Contributed.
  • Whole Amt (Employer+ Employee + Interest) is received later on retirement etc

 

Types of Provident Funds

It is of different types as mentioned below:-

  • Statutory PF
  • Recognized PF
  • Unrecognized PF
  • Public Provident Fund

 

 

  1. Income Tax
  2. Income from Salaries
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 7 years. He provides courses for Mathematics and Science from Class 6 to 12. You can learn personally from here https://www.teachoo.com/premium/maths-and-science-classes/.
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