Employee’s Profident Fund Act‚ 1952 Introduction: * Salary consists of two parts i.e. earnings & deductions * Provident Fund is one of the statutory deduction done by the employer at the time of salary payment * Provident Fund is governed by the Employee’s Provident Fund Act 1952 * Provident Fund has come into force to give better future to employees on their retirement & his dependants in case of his death during employment * The Employees Provident Funds Act 1952 is compulsory
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Is it necessary to reform our retirement system ? (Do we have to raise the retirement age ?) Better life conditions we live longer Belgium : in order to claim an old age pension must have reached a certain age (65) 21st century : Our country‚ as a developed country‚ is suffering from the so called « aging- population » Increase of the life-expectancy PRO 1. Double-effect on funding : * people will contribute longer (2y) to the pension fund pension fund will increase they help to
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PENSION FUNDS A pension plan fund is established for the eventual payment of retirement benefits. A plan sponsor is the entity that establishes the pension plan. A plan sponsor can be: • A private business entity on behalf of its employees‚ called a corporate plan or private plan. • A federal‚ state‚ and local government on behalf of its employees‚ called a public plan. • A union on behalf of its called a Taft-Hartley plan. • An individual‚ called an individually sponsored plan. Two
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Asset Allocation and Retirement: Do You Need to Make a Change? Many investors who are approaching retirement are wondering if they will need to change their asset allocation when they are no longer collecting a paycheck. The information available from the popular press and many advisors is to generally guide retirees to change their allocation to one that is more conservative. This is usually interpreted to mean that the investor should lighten up on stocks and put more of their investments into
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In Margaret Laurence’s novel‚ "The Stone Angel"‚ Hagar Shipley is the main character. Born the daughter of Jason Currie‚ she is one who possesses incredible depth in character. Mingling past and present‚ we observe the very qualities‚ which sustained her and deprived her of joy such as her lack of emotional expression. As well‚ inheriting her father’s harsh qualities‚ she exhibited pride that detested weakness in any form. Despite of her negative attributes she also displayed a positive mannerism
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"Full retirement age" ranges from 65 years exactly (for those born in 1937 or earlier) to 67 (for those born 1960 or later). Persons may elect to receive retirement benefits prior to "full retirement age‚" starting as early as age 62‚ but these will be less and may be subject to limitations based on earnings. The maximum social security benefit for an individual worker retiring at full retirement age in January 2007 (65 years and 10 months) was estimated
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LIFE IN RETIREMENT A PAPER PRESENTED BY GBOLAHAN I. OYEGOKE (PRINCE) B. Sc. (Ed.)Econs.‚ MBA (Mktng.) ABR‚ ACTI‚ ACA HEAD OF PRACTICE Gbolahan Oyegoke & Co Chartered Accountants AT THE POST RETIREMENT SEMINAR ORGANISED BY T. A. AMUSSAH & SONS LIMITED (CONTRACTOR TO CHEVRON NIGERIA LIMITED) DECEMBER 6‚ 2006 PREAMBLE Retirement simply refers to the fact of stopping work because you have reached particular age or set criteria. Such criteria may be health‚ performance at work‚ conduct‚ options
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Voluntary Retirement Scheme (VRS) | | In the present globalised scenario‚ right sizing of the manpower employed in an organisation has become an important management strategy in order to meet the increased competition. The voluntary retirement scheme(VRS) is the most humane technique to provide overall reduction in the existing strength of the employees. It is a technique used by companies for trimming the workforce employed in the industrial unit. It is now a commonly method used to dispense
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The Employee’s provident fund and miscellaneous provisions Act‚ 1952 Introduction The Employees Provident Fund is set up under the Central Act viz. Employees Provident Fund and Miscellaneous Provisions Act‚ in the year 1952. It is applicable throughout the country (except Jammu and Kashmir) * It is applicable to almost all establishments falling under the industries/class of establishments‚ wherein 20 persons are employed. * In the case of cinema theatres workers‚ it is applicable to
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Marvin Shipley is a very interesting character in Margaret Laurence’s novel‚ The Stone Angel. The story is written from the point of view of Hagar Shipley‚ who is Marvin’s mother. We see Marvin as he is portrayed through his mother’s eyes. Hagar never loved her son much and it is possible her view of him is bias because of this. In this novel Marvin Shipley is portrayed to us as being timid‚ reserved‚ weak and unmannerly. Marvin is a softhearted man. We see this many times in the novel. He is a
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