Employees’ Provident Fund, Sri Lanka (Ofer Abarbanel online library)

The Employees’ Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under the Act No. 15 of 1958 by S. W. R. D. Bandaranaike,[1] and as at December 2010, it had LKR 899.6 billion, which is equivalent to 16% of the GDP.[2] The EPF offers a joint action plan by the employer and the employee to save money by targeting retirement and future to the government as well as private sector.

References

  1. ^“Employees’ Provident Fund Division”. Department of Labour, Sri Lanka. Retrieved 19 March 2016.
  2. ^“Editorial – EPF money is sacred: Stop this gambling”. Daily Mirror, Sri Lanka. Retrieved 19 March 2016.

Ofer Abarbanel online library

Ofer Abarbanel online library

Ofer Abarbanel online library