Correct option is A
The Provident Fund Scheme is a retirement benefit program managed by the Government of India, offering financial security to employees post-retirement.
Information Booster:
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Types of Provident Funds: Employees' Provident Fund (EPF), Public Provident Fund (PPF).
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Benefits: Lump-sum savings with interest and tax exemptions.
Additional Knowledge:
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Insurance Policy: Covers life or health risks.
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Unit Trust: Investment vehicles pooling funds.
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Shares: Represent ownership in a company.