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Employees Provident Fund Nepal (Karmachari Sanschaya Kosh) - All New Exam Result 2075/1/11





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Introduction - Employment Provident Fund
Employment Provident Fund Nepal is the annuity subsidize/provident store for representatives of government and private area of Nepal. The Fund is presently overseeing provident assets of 500,000 representatives working for the administration and in the private segment. The Fund additionally puts resources into various areas like frameworks and hydroelectricity. The Fund conveys its benefit among investors. 

At present representatives are required to contribute 10% of their fundamental compensation (i.e. barring rewards) with an equivalent commitment from their manager to their provident reserve. The historical backdrop of Provident Fund (PF) in Nepal goes back to 1934 when the PF conspire appeared with the foundation of Sainik Drabya Kosh (Army Provident Fund) amid the Rana Regime. 

The plan was started with the aims of expelling budgetary hardships to the armed force faculty after their retirement. Under the plan, the armed force staffs were required to contribute a particular level of their pay to their provident reserve (PF) account in Sainik Drabya Kosh. After 10 years the plan was widened to cover the workers of common administrations also. A different association named Nijamati Provident Fund was set up in 1944 to deal with the plan for government workers working inside Kathmandu. 

In 1948 the scope of the plan was reached out to give scope to the whole government workers working all through the kingdom of Nepal. In 1959, Employees' Provident Fund Department was set up under the Ministry of Finance and Economic Affairs. This division was depended with the administration of both Sainik Drabya Kosh and Nijamati Provident Fund. With this, the extent of the plan was stretched out to cover all administration workers including the police. 

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