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1. What percent of an employee's salary is kept aside in the provident fund as his contribution?

12% of take home pay

12% of the basic salary

12% of the CTC

2. An employer has collected provident fund contribution from the employees and made its contribution. Where can it NOT park this money?

In a regular Mutual Fund

Managed centrally by the central board of trustees of EPFO

In a trust formed by the employer and managed as per the guidelines set by the government

3. The provident fund money cannot be invested in ______

Government bonds

Specified corporate board

Equity stocks

4. Which of the following is NOT a benefit of Provident Fund

Tax benefits

Loan facility

Anytime withdrawal

5. In a situation when you change your employer within 5 years of working, what should you do with your PF?

Withdraw all PF balances

Transfer the balances to the new employer

Leave it with the old employer and open a new one with new employer

What does your provident fund do for you?

provident fund

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Level - 6,3,8,6 BASIC

Provident fund contributions enable us save and accumulate funds over the long term, and give us benefits such as loan facility and tax savings. Watch this video to appreciate why it is important to contribute regularly to a provident fund.

AUTHOR(s):Uma Shashikant

What does your provident fund do for you?

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