1. #1
    Unregistered

    Benefits of PF for Employee, Employer and Government?

    I am working for a company for last one year and my PF is deducted as per norms. I am happy that at least I am saving some amount through this. But is there any other benefits for the same to the employee, employer and Government?

  2. #2
    u.shankar Array
    Join Date
    Jul 2012
    Posts
    44

    Re: Benefits of PF for Employee, Employer and Government?

    provident found (PF) benefit for all employees in all Govt and private sectors because how much of amount is detect from salary in PF that same amount can added to the Employee. in Govt employee GPF contains Loan facility and also some interest added to PF account so PF is detected is more benefit all employees

  3. #3
    Chittaranjan Array
    Join Date
    Jul 2012
    Posts
    658

    Re: Benefits of PF for Employee, Employer and Government?

    1.This PF is deducted by the employer compulsarily from the confirmation of his/her service monthly till his/her retirement.As a result at the time of retirement every employee gets a large fund,it is the benefit of employee.

    2.Benefit to employer that united fund can be invested in safe place which is profitable to employer.

    3.Govt.can also utilise this large fund as and when needed for developement purpose.

    thus employer,employer,govt.can be benefitted by the fund of P.F.

  4. #4
    looser Array
    Join Date
    Jul 2012
    Posts
    619

    Re: Benefits of PF for Employee, Employer and Government?


    Benefits of Provident Fund:

    The employer can contribute PF at 12% in his salary.

    You can collect this total PF at the time of resignation.

    Pension benefits:

    1. The employee can get pension

    2. Pension to Family members

    3. You can also get scheme certificate. many advantages are there with scheme certificate.

    Withdraw benefits:

    Employer and Govt. contributes to Pension fund @8.33% and @1.16% respectively

    Death Benefits:

    1. PF amount transfer to family

    2. Capital Return of Pension

    3. Insurance amount to family

    Thank you

  5. #5
    Raajkumar Array
    Join Date
    Jul 2012
    Posts
    213

    Re: Benefits of PF for Employee, Employer and Government?

    The PF is 12% of your basic pay.
    the company and the government combined contribute the same amount as yours.
    If you put PF it is taken by the government for its spending.
    They have to give back the money when you are retiring so the government uses for its spending.
    When you retire are try to withdraw your money the government have to pay back your amount.
    So you are contributing to the countrys growth by paying PF.
    And also you get your pension or PF amount back for your saving.

  6. #6
    Puru Thaman Array
    Join Date
    Jul 2012
    Location
    CHENNAI
    Posts
    638

    Smile Re: Benefits of PF for Employee, Employer and Government?

    haI,



    _)_Provident Fund of 12% is Deduced Every Month from Employees Salary_)_



    *Benefits*



    1.Employee


    • It is adding a Saving Account,
    • He can Apply for Loan & other Benefits,
    • After Retirement he will be Benefited with Pension,
    • He can Relieve from Income Tax.


    2.Employer


    • Tax Benefit of Company,
    • Mutual Funds & Shares Investing,
    • Availing Loan for Employees.



    3.Government


    • Economic Status in Money will become higher,
    • Money Laundering is Prohibited,
    • Benefits to all Employees,
    • Great Turn over for the Government,
    • Low Tax Apply.


    _)(_Thanks_)(_

  7. #7
    soundtrack2 Array
    Join Date
    Jul 2012
    Posts
    384

    Re: Benefits of PF for Employee, Employer and Government?

    PF or provident fund is policy followed in private as well as government organizations. Under such scheme a certain amount is deducted every month from your salary to be deposited in fund. The employee as well as employer both contribute in this scheme. The interest rate obtained in PF is also more as compared to other deposits. You save a lot of money which you can redeem at the time of your retirement for future plans so it is beneficial.

  8. #8
    sane Array
    Join Date
    Aug 2012
    Posts
    59

    Re: Benefits of PF for Employee, Employer and Government?

    Hello Dear Friend.....


    There are so many benefits for you.....


    I have mentioned Some of the important benefits below....


    >> Pension to You..

    >> Pension to family

    >> Provident fund benefits

    >> Withdrawl benefits

    >> Death benefits

    >> Capital Return to pension......


    ALL THE VERY BEST

  9. #9
    sairam6 Array
    Join Date
    Aug 2012
    Posts
    176

    Re: Benefits of PF for Employee, Employer and Government?

    hai friends

    having the pf is more befit to the government employer

    he/she can relieve from the income tax

    the pf ammount ,will give to you ,when you retirment is over

    the amount is saved in the savings account ,and it is give to you after the retriment

    employee

    he/she can apply to any bank loans

    eample : house loan,educational loan,

    when the retriment is over the amount is give to her in the named based on the pension

    the pension to give to her at time and amount is also good figure

    their is no problem from the income tax

    employer


    this also same can take the loans from the banks

    their is no problem from the income tax

    government

    great turn over the government

    can pay less ammount to the income department

    hope this information helps yoy

    good luck

  10. #10
    king87 Array
    Join Date
    Jul 2012
    Posts
    62

    Re: Benefits of PF for Employee, Employer and Government?

    dear friend ,

    since you are working in govt. Organization your pf will be deducted .

    12% of basic salary will be deducted for pf.

    Benefit is you get the pf after your retirement not only the amount you have deducted but interest

    of the total money.

    You get pension after retirement .

    You can take loan from pf .

    Thank you!!!!!!

  11. #11
    geetanjali Array
    Join Date
    Aug 2012
    Posts
    135

    Re: Benefits of PF for Employee, Employer and Government?

    Hello,

    Pension benefits are that the employee can get pension,pension to family members and you can also get scheme certificate.

    Withdraw benefits are that employer and Govt. contributes to Pension fund @8.33% and @1.16% respectively

    Death Benefits are that PF amount transfer to family and Capital Return of PensionInsurance amount to family.

    All these benifits comes with PF.


    Hope this was helpful!!!!!!



  12. #12
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: Benefits of PF for Employee, Employer and Government?

    Dear Aspirant,

    There is a PF act to deduct the amount from the salary of the employee every month.The employee gets benifits that he is able to get a huge amount at the time of retirement,gets income tax rebate under section 80c of the IT,easy to save the amount for future,gets loan from time to time at the time of need of money,makes the employee entitle for pension after the retirement.It is also benificial to the employer & the govt.The employer has also to contribute an amount equal of the employee every month i.e.at the rate of 12% of the pay of the employee.Thus the employer also gets IT rebate.It is a good resource to the govt.The govt.may use the the amount in emergency.

    Thanks.


  13. #13
    ritesh Array
    Join Date
    Aug 2012
    Posts
    187

    Re: Benefits of PF for Employee, Employer and Government?

    DEAR SRI
    the company and the government combined contribute the same amount as yours.If you put PF it is taken by the government for its spending.They have to give back the money when you are retiring having the pf is more befit to the government employer he/she can relieve from the income tax the pf ammount ,will give to you ,when you retirment is over the amount is saved in the savings account ,and it is give to you after the retriment every month from your salary to be deposited in fund. The employee as well as employer both contribute in this scheme. The interest rate obtained in PF is also more as compared to other deposits when the retriment is over the amount is give to her in the named based on the pension the pension to give to her at time and amount is also good figure ...........................






  14. #14
    YESHU Array
    Join Date
    Jul 2012
    Posts
    186

    Re: Benefits of PF for Employee, Employer and Government?

    PF is 12% of your basic pay.
    the company and the government combined contribute the same amount as yours.
    If you put PF it is taken by the government for its spending.
    They have to give back the money when you are retiring so the government uses for its spending.
    When you retire are try to withdraw your money the government have to pay back your amount.
    So you are contributing to the countrys growth by paying PF.

  15. #15
    Navshy Array
    Join Date
    Aug 2012
    Posts
    12

    Re: Benefits of PF for Employee, Employer and Government?

    PF or provident fund is policy followed in private as well as government organizations. Under such scheme a certain amount is deducted every month from your salary to be deposited in fund. The employee as well as employer both contribute in this scheme. The interest rate obtained in PF is also more as compared to other deposits. You save a lot of money which you can redeem at the time of your retirement for future plans so it is beneficial.

  16. #16
    rockindeepak Array
    Join Date
    Aug 2012
    Posts
    189

    Re: Benefits of PF for Employee, Employer and Government?

    Hello

    Well everyone has a benefit from PF

    First every month a particular amount is deducted from your salary till retirement so that it will get saved for your future. After you retire you will get a lot of money for your future.

    Second you give 12% of your salary and get 8.75 as interest so you will get that amount with interest

    Third the government may use these funds whenever they need it for the development of the state or country. Be sure whenever you need your money you will get it.

    this is done for your better future and to have a secure life
    Thank you

  17. #17
    Boss Array
    Join Date
    Jul 2012
    Posts
    1,649

    Re: Benefits of PF for Employee, Employer and Government?

    The PF is 12-tone system of your basic pay.
    the corporate and therefore the government combined contribute an equivalent quantity as yours.
    If you set PF it's taken by the govt. for its disbursement.
    they need to administer back the money once you are retiring that the government uses for its disbursement.
    once you retire are attempt to withdraw your cash the govt. need to pay back your quantity.
    therefore you're tributary to the countries growth by paying PF.
    And additionally you get your pension or PF quantity back for your saving.
    There is a PF act to deduct the quantity from the earnings of the worker monthly.The employee gets benefits that he's ready to get a large quantity at the time of retirement,gets taxation rebate underneath section 80c of the IT,easy to save lots of the quantity for future,gets loan from time to time at the time of want of cash,makes the worker entitle for pension when the retirement.It is additionally beneficial to the leader & the govt. .The leader has additionally to contribute Associate in Nursing quantity equal of the worker monthly i.e.at the speed of 12-tone system of the pay of the worker.Thus the leader additionally gets IT rebate.It is an honest resource to the govt. .The govt.may use the the quantity in emergency.

+ Reply to Thread

Similar Threads

  1. Is it advisable to discuss about my employer in public forums?
    By Unregistered in forum Professional Discussions
    Replies: 28
    Last Post: 31-03-2013, 07:31 PM
  2. Replies: 9
    Last Post: 12-11-2012, 01:53 PM
  3. Replies: 6
    Last Post: 16-10-2012, 08:03 PM
  4. Replies: 14
    Last Post: 28-09-2012, 06:56 PM
  5. Replies: 3
    Last Post: 06-08-2012, 04:29 PM