There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year
8.6% per year
It was established through a Government Act in the year 1952
8.6% per year
The coal mines provident account balance can be checked by the finance officer. The financial officer usually publishes the statements after six months or one year.
Every year company will provide PF Statement which contains your PF Contribution amount, Company's Contribution amount, total amount and Interest
No. Employer contribution must be given right from the first month
There is no such minimum number. It should be 12% of your basic salary thats all. If your basic is 1000 rupees then even Rs. 120 can be contributed every year
Grant didn't resign.
Public Provident Fund is a scheme in which any Indian with a PAN card can invest and save money. Provident Fund is a scheme in which a person can join only through his employer. A portion of his salary would be deposited with the regional PF office on his name whereas in PPF you visit any nationalized bank like SBI and deposit money into your account.
On February 11, 2013, he announced he would resign on February 28 of that year.
Public Provident Fund or PPF is a scheme that was introduced by the Government of India in the year 1980. Ever since that year, PPF has been a preferred choice for investment for the risk averse investor. Assured and Tax Free Returns make PPF even more attractive. The PPF is just like the regular Provident Fund Account that salaried employees get throughout India. The only difference being, the PPF account can be opened by anyone and contributions can be made as per their preferences. The money saved in the PPF Account is backed by the Government of India and hence it is practically Risk Free. The money in the PPF Account earns interest just like the PF account which will be credited into our account by the Government.