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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. A person is self employed and wants to save for long term. Which of the following is available to him?

Public Provident Fund

Provident Fund

Voluntary Provident Fund

3. 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

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

Tax benefits

Loan facility

Anytime withdrawal

5. 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

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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