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However, employee’s contribution is 12% of the basic wage as per sec.2(b) of the act and employer’s share of contribution is also 12% of the basic wage as per sec.2(b) of the act. In employer contribution of 12%, 8.33% transfer to EPS (Employee Pension Scheme) and 3.67% transfer to EPF (Employee Provident Fund).
The Government of Jharkhand also known as the State Government of Jharkhand, or locally as State Government, is the supreme governing authority of the Indian state of Jharkhand and its 24 districts. It consists of an executive, led by the Governor of Jharkhand, a judiciary and a legislative branch. Like other states of India, the head of state ...
The National Pension System (NPS) is a defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions, Old Pension Scheme (OPS) for all its ...
Public employee pension plans in the United States. In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service.
Website. nsap .nic .in. The National Social Assistance Programme ( NSAP) is a Centrally Sponsored Scheme of the Government of India that provides financial assistance to the elderly, widows and persons with disabilities in the form of social pensions. The NSAP scheme only includes Below Poverty Line individuals as beneficiaries.
His successor Arjun Munda, also from the BJP, is the longest-serving chief minister; he served for over five years, across three terms but never completed a full term. Three chief ministers, Shibu Soren, his son Hemant Soren, and Champai Soren, represented the Jharkhand Mukti Morcha (JMM). Shibu Soren's first term ended in just ten days, as he ...
Hemant Soren (born 10 August 1975) is an Indian politician from Jharkhand, who served as the 5th Chief Minister of Jharkhand from 2019 to 2024 and from 2013 to 2014. [1] [2] He is also the working president of the Jharkhand Mukti Morcha, a political party in Jharkhand. [3] He represents Barhait constituency in the Jharkhand Legislative Assembly ...
This functions as a pension fund for old age security for the organised workforce sector. For those workers, it creates Provident Fund to which employees and employers contribute equally, and the minimum contributions are 10-12 per cent of wages. On retirement, employees may draw their pension. Indira Gandhi National Old Age Pension Scheme