The Form of ‘PF’ stands for the ‘Provident Fund’.This had been defined in the category of Monetary value. This is a type of benefit which is regarded at the time of retirement.
This form manages an fund of monetary variability which is a part of employees salary which had been deducted every month within the period of working salary and deposited in the Government Pf office. This deduction had been paid after the retirement of employees in government jobs. This deduction had managed with the percentage formula based on the salary type.
This scheme has been determined compulsory in some countries such as Singapore , India and other developing countries.This is the best way to attract or manage individuals toward the Government working sector. This has been defined in the fully or Installment factor.
This fund had been determined and added with the Interest variability. This subject had been denoted with various factors such as medical , insurance etc. The PF had been defined in various types , such as :
- Employee Provident Fund.
- Statutory Provident fund.
- Recognized Provident fund.
- Unrecognized provident fund.
- Public provident fund.