Question
How can an employee check their EPF balance?
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 can check their EPF balance through the EPFO portal or the UMANG app.
What is the total financial outlay of the 'PM Vishwakarma Yojana' for the period of FY 2023-24 to FY 2027-28?
Which of the following is an initiative under BBBP to celebrate the girl child?
Which of the following Statements about the Panchayat Raj Institutions is/are True?
I- The 73rd Amendment added a new Part IX to the Constitution...
Which of the following Statements about Priority Sector Lending is/are True?
I- PSL norms are decided by the RBI after discussion with the Cabine...
If the cross-price elasticity of demand between two goods is negative, the goods are:
Which of the following Statements about the Bhoomi Rashi Portal is/are True?
(I)- The Bhoomi Rashi Portal is an e-Governance initiative of the...
Presently, cooperatives carry out activities in which of the following sectors in India?
Ministry of Skill Development and Entrepreneurship launched 'Skills on Wheels' initiative of National Skill Development Cooperation and _______________...
Which of the following is not included in the calculation of Gross Domestic Product (GDP)?
The World Development Report proposes a “3i strategy” to help uppermiddle-income countries transition to high-income status.
Which of the fol...