What is Provident Fund ?

Today, we will be discuss about Provident funds, its uses, benefits, their need in our life. The knowledge of provident funds is beneficial for our future and also secure our future.

Provident Funds and Miscellaneous Provisions Act 1952 introduced on 4 March 1952. Provident fund is one of the beneficial schemes for the elders.The employee must contribute the small amount of his salary and employer contribute on the behalf of the employee. It is compulsory to register in EPFO for all companies who have more than 20 employees. This fund is maintained and overseen by the Employee Provident Fund Organisation of India.

It is a type of saving,in which an employee save a small part of his salary every month that can be used in the event when an employee not in the condition to do work or after retirement.

When you start working,you and your employer contribute 12% of your basic salary into your PF account. PF is active every time when you receive your salary. If employee change his job employee should update his EPF information i.e his UAN(Universal Account Number) with his new company so that they can continue the contribution.UAN (Universal Account Number) was started in October 2014. The 12-digit UAN is very helpful for tracking of the EPF account details. The interest is decided by the government and central board of trustees is paid on the amount to the credit of the employee as on 1st April every year. Employee contribution made monthly but the interest is calculated yearly. There is a tax benefit i.e the employer contribution to employee EPF is tax-free and employee contribution is tax deduction under Section 80C of Income Tax act.

So, these are some conceptual details about provident funds and also their benefits that are helpful for our future. HR training in Chandigarh work out on all accounting concepts which is used in human resource management. You can learn all these stuff by taking HR Training in Chandigarh. To do HR Training CBitss Technologies is the best training company which helps to understand all the concepts through its practical based training program. this will help you to understand things practically which will help you to get more jobs in industry.

CBitss is a venture of Sukrala IT services Pvt.  Ltd. which is an ISO certified company,established in 2002.Its head office in Chandigarh and its branches are in Himachal and Jammu. CBitss is the place where we learn about HR, Finance, marketing and management courses.  CBitss technologies is the best HR training institute in Chandigarh.

For more informtion you can contact @ 9988741983 or you can visit the official website www.cbitss.co.in

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HR Training in Chandigarh

Most of the people think that there is no need to take professional training if you are doing management courses like Diploma or Degree. People think that only academic education is more than sufficient to get placed in the companies or anywhere. But, there is a hidden factor in this. Otherwise, there is very less ratio who get selected just after finishing their academic courses. But they have faced so many problems in the initial stage of their job. Let have details talk on that.

So many people face so many problems when they start working in an industry just after finishing their MBA or BBA. why they face this problem, there is a big reason behind that. They never go through the professional management courses which teach them that what is the industry all about and how the work get done in industry. Office culture, latest technologies many other updations one should know before he starts working. Having less knowledge when people start working, it is very difficult for them to perform well and soon they face Firings from the companies.

So after finishing their academic studies one should start taking professional management training so that he or she should know the latest stuff about his field. That can lead a person towards the perfection in his field and can give them more and best career options.

So which kind of professional training one can do for management?

This is the right question to ask. Now you have to see that what is your main course in which you are doing your Diploma or degree. Let suppose you are doing MBA in Finance so you can start doing professional Finance Training in Chandigarh. If you are doing your MBA in HR you can do professional HR Training in Chandigarh. You can do any Management courses in Chandigarh. These training can lead you towards your successful career because practical training gives you benefit always. Every industry required people with the practical training so one should go through these training modules.

HR Training in Chandigarh

For any kind of management training, you can join training in CBItss Technologies which is the only and the best management training company in Chandigarh. For more information you can contact at 9988741983 of you can visit official website www.cbitss.co.in.

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