GPF for government employees and EPF for all
Q. Which of the following is/are true?
1) The General Provident Fund is mandatory for all organizations with 20 or more employees.
2) The Employees’ Provident Fund is offered to government employees only.- Published on 23 Feb 16a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
ANSWER: Neither 1 nor 2
- The GPF is offered to government employees, while EPF benefits are mandatory for all organizations with 20 or more employees earning up to Rs. 15,000 a month.
- Those earning over the Rs.15,000 ceiling can contribute to EPF on a voluntary basis.
- The EPF schemes cover Indian workers as well as International workers (for countries with which bilateral agreements have been signed. As of now 14 Social Security Agreements are operational).