Provident fund meaning: What Is a Provident Fund

What Is a Provident Fund? A Provident Fund, often referred to as a pension fund in some countries, is a government-managed savings scheme that aims to provide long-term financial security for workers upon their retirement. The structure of this fund involves regular contributions from both the employee and the employer, with the accumulated funds released to the employee upon retirement or under other specified circumstances. Although variations of retirement savings schemes exist worldwide ... Provident Fund is a retirement savings scheme for salaried employees in India, where both the employee and employer contribute a portion of the salary to a fund that earns interest and can be withdrawn upon retirement. Learn about the key features, types, benefits, and importance of UAN for Provident Fund accounts. The provident fund (PF) is a retirement benefits program intended to give salaried professionals enough money in retirement. The amount withheld from an employee's monthly income and placed into their PF account is a joint contribution from employers and employees. Learn about Provident Fund (PF), Definition, benefits, eligibility, contributions, withdrawal process, and how it ensures financial security post-retirement.