![]() This revenue is in turn used to execute programs and schemes.ĮPF (Employees Provident Fund) is yet another aspect covered by form 15G. Imposition of tax on goods and services is a way adopted by the government to collect revenue from the masses. ![]() The statutory council administered by the Ministry of Labour and Employment aims to contribute towards the provident fund saving scheme for every employee or employer. This savings scheme for which a fixed rate of interest is imposed is endorsed by the Government of India. It is also identified as PF (Provident Fund) which is available to salaried groups or individuals. The Employee Provident Fund initiated by the Employee Provident Fund Organization (EPFO) is a savings scheme granted after retirement.
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