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Provident Fund Employees' Contribution is deducted from salaries payable to employees.

Explain why then it is considered as a benefit to the employee?

Accounting Cost Accounting Financial Reporting Financial Accounting Financial Management
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Date Posted: 2014/08/25
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It is a benefit as it encourages savings, its tax free and earns8 % interest per annum. The employee is allowed interest free loan from his Provident Fund too.

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