What are the differences between provident fund and pension fund?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
Pension expense for employees directly related to production is reflected by an ...
Posted by:
Shahbaz Hayder
09-July-2015

Pension Administration Pension Funds Fund Managers Fund Services Fund Analysis

Question added by Samahir Alshawwaf , Senior Accountant , Head Quarter of United Nations Relief and Works Agency ( UNRWA)
Date Posted: 2017/01/30

Upvote (0) Views (3) Followers (1) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

Malik Danyal Hameed

by Malik Danyal Hameed , car sales and rental agent , City Motors

Provident fund is the contribution of employee and employer, you can say that its a retirement (lump sum) fund for employees.

Pension fund is the contribution of employee and government / state. It is also a retirement fund but you can take it on monthly basis.

Downvote Reply () Report

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

In respect of which funds that do not have a fixed date of redemption?
Top Answer: as of the market study the redemption price is the price received on selling units of open-ended scheme. ... See More

Answers (10)
You've set aside a certain amount of your project funds to cover key, identified risks. What specifically did you use to determine how much should go into this fund?
Top Answer: Budget Amount is determined by similar projects incurred. Increases in budget are determined by Inflation ... See More

Answers (2)
What should you as the project manager do in the event of reduced funding on your project?
Top Answer: E. Abandon the project until funds are made available. See More

Answers (1)
Theoretically we keep depreciation for writing off an asset value and it will be a fund for purchasing a new asset. how to keep it as a fund practically?
Top Answer: <p>Depreciation written off is not going out of business. It</p> <p> remains in the bu ... See More

Answers (4)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.