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

• Contractor(s) whosoever is liable to be covered under the P.F. Act and contract cost is inclusive of P.F., must ensure strict compliance of provisions of Provident Fund and Miscellaneous Provisions Act, 1952 in addition to the various Acts mentioned elsewhere in this contract.

• As per terms of the contract, if applicable, the Contractor must deposit Provident Fund Contribution (covering Employee's & Employer's share) with the competent authority monthly under their direct code.

• The Fixed pay shall include monthly remuneration, employer’s contribution to Provident Fund, contribution to pension fund, pension schemes, etc.

• On any question as to the application, interpretation of effect of these rules, the decision of the Chief Inspector of Factories & Boiler, Labour Commissioner and Provident Fund Commissioner as the case may be shall be final and binding.

• CONTRACTOR must obtain the PF Code from the concerned PF Authority under Employees Provident Fund and Miscellaneous Provisions Act, 1952.

More Definitions of Provident Fund

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 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 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.