Meaning of Provident Fund

Provident Fund

Language - English

Tamil Word - வருங்கால வைப்பு நிதி

Retirement Savings Scheme. Example: The property was purchased using the accumulated funds from the employee's provident fund account. A provident fund is a government-mandated savings scheme in India where both the employee and employer contribute a portion of the employee's salary towards a retirement fund. This fund provides financial security to employees after retirement or in case of unforeseen events. In the context of real estate, it can be a source of funds for purchasing property or making down payments.