Provident Fund definition

Provident Fund means any fund (other than a pension fund, benefit fund or retirement annuity fund) which is approved by the Minister in respect of the year of assessment in question: Provided that the Minister may approve a fund subject to such limitations or conditions as he or she may determine, and shall not approve a fund in respect of any year of assessment unless he or she is in respect of that year of assessment satisfied -

Provident Fund means a fund in which subscriptions or deposits of any class or classes of employees are received and held on their individual accounts, and includes any contributions and any interest or increment accruing on such subscriptions, deposits or contributions under the rules of the Fund;

Provident Fund means the provident fund of the Bank.

Examples of Provident Fund in a sentence

• In addition to the levies, contributions and fees payable in Phases One and Two, the following contributions shall become payable as prescribed in Addendum 1: Provident Fund contributions.

• If it is established that a member has ceased to be a member of the Furnmed Sick Benefit Society or Nufawsa Sick Benefit Society, and the Society has in error or contractually paid for any medical expenses incurred by such member and/or his registered dependants, the Fund trustees shall have the right to deduct the amount(s) from the member’s Provident Fund contributions and transfer the amount(s) due to the relevant Society.

• All working employers shall observe the provisions of this Agreement in respect of hours of work, payment of Leave Pay Fund contributions and payment of Holiday Bonus Fund contributions at the prescribed foremen’s rate of pay, payment of Provident Fund contributions, additional Provident Fund contributions, payment of Council levies and payment of wages for public holidays.

• In the latter instances, all the contributions shall by default initially be made to the Additional Provident Fund to the same value of the Furnmed Sick Benefit Society in terms of clauses 4.2.1 and 4.2.2 of Addendum 1, unless the employee qualifies in terms of the applicable rules of the Furnmed Sick Benefit Society or the NUFAWSA Sick Benefit Society and the same employee elects in writing to the Council, to become a member of any one of the Sick Benefit Societies.

More Definitions of Provident Fund

Provident Fund means a scheme for the payment of lump sums and other similar benefits to employees when they leave employment or to the dependants of employees on the death of those employees;

Provident Fund means a Provident Fund as defined in the Provident Funds Act, 1925 (Central Act XIX of 1925), and includes a Government Provident Fund and a Railway Provident Fund as defined in the said Act;

Provident Fund means a fund established under the Provident Funds Act, 1925 (19 of 1925) or the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) to provide current and former employees of Indian employers retirement benefits in consideration for services rendered:

Provident Fund means the KwaZulu-Natal Joint Municipal Provident Fund as contemplated in section 4 of the KwaZulu-Natal Joint Municipal Provident Fund Act, 2017, being the continuation of the KwaZulu-Natal Joint Municipal Provident Fund established in accordance with section 2 of the KwaZulu-Natal Joint Municipal Provident Fund Act, 1995;

Provident Fund means a fully funded, de fined contribution scheme in which funds are managed privately and benefits paid as lump sum to the employee or his dependants in case of death. In some cases it is possible for the employee to draw income prior to retirement to meet specific needs;

Provident Fund shall refer to any fund established by the OSCE as an instrument of social security.

Provident Fund means any of the following (as the case may be): (i) a provident fund, (ii) a study fund, or (iii) a provident fund for severance pay, or (iv) an entity holding shares in the Company on behalf of Provident Fund(s) under its management, as disclosed to the Company.