Multiple choice general knowledge

Employee Provident Fund scheme is a

  1. Defined benefit scheme

  2. Defined contribution scheme

  3. Combination defined benefit and contribution scheme

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

EPF is a defined contribution scheme where both employer and employee contribute fixed percentages of salary. The final payout depends on total contributions and investment returns, not a predefined benefit formula.

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