Question
When was the Employees' Provident Funds and
Miscellaneous Provisions Act enacted? Read the following passage and answer the Questions (Q no. 5 to 8) based on the passage. The provident fund is an essential financial tool for the middle class, offering a safety net for the future while encouraging disciplined savings. For many middle-income individuals, a provident fund represents a primary means of building financial security and ensuring stability during retirement years. Its significance lies not only in providing post-retirement benefits but also in shaping long-term financial habits. One of the key advantages of a provident fund is that it promotes consistent savings over time. For the middle class, where immediate financial needs often compete with the desire to save, the provident fund helps strike a balance by mandating regular contributions from both employees and employers. This compulsory savings mechanism ensures that, regardless of short-term financial pressures, a portion of income is consistently set aside for the future. Additionally, the provident fund offers a sense of security and stability for individuals as they approach retirement. With rising costs of living, particularly in healthcare and housing, the middle class is increasingly concerned about maintaining a comfortable lifestyle in their later years. The provident fund provides a structured way to accumulate savings that can be accessed during retirement, ensuring that individuals have a financial cushion to rely on when they no longer have a regular income.Solution
The Employees' Provident Funds and Miscellaneous Provisions Act was enacted in 1952 to provide a system of compulsory savings for employees to ensure financial security post-retirement.
Match List-I with List-II and select the correct answer using the codes given below the lists.
Which are of the following is an asymmetrical triazine?
Which insect order listed below never includes aquatic species during any life stage?
In precision farming, which of the following tools is commonly used to generate spatial variability maps of soil fertility and crop health?
Whiptail in cauliflower is caused due toÂ
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Which of the following nematode is kidney shaped:
Soil Health Card Scheme was launched in which year?
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Debeaking, also called beak trimming, is a partial removal of the beak of poultry, especially layer hens, when layer hens are confined to a chicken hous...
