3. PROVIDENT FUND
• Provide monetary assistance.
• Contribution from employees and
employers.
• To meet obligations and
contingencies.
GRATUITY
• Given at the time of retirement.
• Payment is compulsory when the
employee completes 5 years of
service.
• Maximum amount-10,00,000
EMPLOYEES’ PROVIDENT FUND AND
MISCELLANEOUS PROVISIONS ACT,1952