Question
What percentage of an employee's basic salary is
contributed to the EPF by the employee? 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
An employee contributes 12% of their basic salary to the Employees' Provident Fund (EPF).
'P' and 'Q' have present ages in the ratio of 4:5. If Q’s current age is increased by 20%, the gap between their ages becomes 1...
An item is priced 50% above its cost price. It is then subjected to two consecutive discounts of 12% and 13.5% on the marked price. Determine the overal...
Present age of ‘K’ is 70% more than that of ‘L’. 10 years ago, ‘K’ was 2.2 times as old as ‘L’. Find the present age of ‘L’.
...The average age of (x + 3) students is 20 years. When their teacher aged 35 years joins them, the average increases by 1 year. Find x% of 400.
The respective ages of a mother and her daughter are 65 and 21 years. In how many years will the mother be thrice as old as her daughter?
4 years back, the combined age of 'Arvind' and 'Chirag' was 9 years lower than the current total age of 'Arvind' and 'Bishma'. Seven years from now, the...
A’s age is the seventh part of his father’s age. After 10 years, the age of A’s father will be twice the age of B. If B’s 5th bi...
Present average age of 4 friends: ‘A’, ‘B’, ‘C’ and ‘D’ is 24 years. If their ages are in the arithmetic progression in the same order a...
A girl’s age is 160% of what it was 5 years ago, but 80% of what it will be after 6 years. What is her present age?
The sum of the present ages of Tina and her father is 50 years. Tina's father is 4 years older than her mother, and two years ago, Tina's mother's age w...
