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

• The Contractor shall, within 7 days of the close of every month, submit of the Principal Employer (Corporation), Statement showing the recoveries of Contribution in respect of Employees employed by or through him and shall have to furnish to him such information as the Principal Employer (Corporation) is required to furnish under the provisions of Employees Provident Fund Scheme 1952 to the Commissioner.

• The Company shall comply with the Central Provident Fund (CPF) Act, if applicable.

• Investment of Provident Fund and Gratuity Fund amounted to PKR 88.944 million and PKR 17.42 million respectively, as at December 31, 2010 according to its audited accounts.

• The Contractor shall comply with the provisions of Para 30 & 36-B of the Employees Provident Fund Scheme, 1952; Para 3 & 4 of Employees’ Pension Scheme, 1995; and Para7 & 8 of Employees Deposit Linked Insurance Scheme, 1976; as modified from time to time through enactment of “Employees Provident Fund & Miscellaneous Provisions Act, 1952”, wherever applicable and shall also indemnify the Corporation from and against anyclaims under the aforesaid Act and the Rules.

• The Contractor shall comply with the provisions of Para 30 & 36-B of the Employees Provident Fund Scheme, 1952; Para 3 & 4 of Employees‟ Pension Scheme, 1995; and Para7 & 8 of Employees Deposit Linked Insurance Scheme, 1976; as modified from time to time through enactment of “Employees Provident Fund & Miscellaneous Provisions Act, 1952”, wherever applicable and shall also indemnify the Corporation from and against anyclaims under the aforesaid Act and the Rules.

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, defined 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.