Provident Fund is government-managed retirement savings scheme for employees. Employee contribute a part of their salary each month towards the pension fund and an employer should make a contribution on behalf of the employees. These monthly savings get accumulated every month, and can be accessed as a lump sum amount at the time of retirement, or end of employment. Every setup with more than twenty employees has to offer PF to its employees.
Introduction to Company Incorporation
Incorporation is a legal process to form a company or a corporate organization. Incorporation means the registration of the Company or Organization in Registrar of Company. Various groundwork is carried out to bring a company into existence. The process of an idea of converting into a company includes various stages. The corporation is a legal entity that separates the income and firm’s assets from its investors and owners.