New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    The provident fund created under the provident fund

    scheme given in the Social Security Code 2020, is contributed by the employer at what percentage of the wages?
    A 20% Correct Answer Incorrect Answer
    B 10% Correct Answer Incorrect Answer
    C 15% Correct Answer Incorrect Answer
    D 12% Correct Answer Incorrect Answer

    Solution

    Explanation: In this scheme, the employer is required to contribute 10% of the wages of each employee (whether directly employed or employed through a contractor) to the fund. The employee's contribution will be equal to the contribution made by the employer on their behalf. However, if an employee wishes to contribute more than 10% of their wages, they are allowed to do so. It's important to note that the employer is not obligated to contribute more than their required contribution.

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