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Question
A social security scheme in which both employer and employee contribute 10% of the basic wages every month is ______.
Options
Gratuity
Pension
Provident Fund
Group Insurance
MCQ
Fill in the Blanks
Solution
A social security scheme in which both employer and employee contribute 10% of the basic wages every month is Provident Fund.
Explanation:
Provident fund is a social security plan where both employers and employees contribute 10% of their basic earnings monthly. Employees can save a percentage of their monthly wage for future use, such as retirement or emergencies.
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Scope of Social Security
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