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Employees' Provident Fund (Sri Lanka)
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, also known historically as Ceylon, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, separated from the Indian subcontinent, ... under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. The EPF offers a joint action plan by the employer and the employee to save money by targeting retirement and future to the government as well as the private sector. EPF invests in most Sri Lankan private companies such as Vallible One and Commercial Bank of Ceylon. See also * Employees' Trust Fund References External links Website of EPF {{Authority control Age pension systems Retirement in Sri Lanka Social security i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colombo
Colombo, ( ; , ; , ), is the executive and judicial capital and largest city of Sri Lanka by population. The Colombo metropolitan area is estimated to have a population of 5.6 million, and 752,993 within the municipal limits. It is the financial centre of the island and a tourist destination. It is located on the west coast of the island and adjacent to the Greater Colombo area which includes Sri Jayawardenepura Kotte, the legislative capital of Sri Lanka, and Dehiwala-Mount Lavinia. Colombo is often referred to as the capital since Sri Jayawardenepura Kotte is situated within the Colombo metro area. It is also the administrative capital of the Western Province and the district capital of Colombo District. Colombo is a busy and vibrant city with a mixture of modern life, colonial buildings and monuments. It was made the capital of the island when Sri Lanka was ceded to the British Empire in 1815, retaining its capital status when Sri Lanka gained independence in 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sri Lankan Rupee
The Sri Lankan rupee (, ; Currency symbol, symbol: ₨ in English, රු in Sinhala, ௹ in Tamil; ISO 4217, ISO code: LKR), known until 1972 as the Ceylon rupee, is the currency of Sri Lanka. It is subdivided into 100 cent (currency), cents (, ), but cents are rarely seen in circulation due to their low value. It is issued by the Central Bank of Sri Lanka. The abbreviation ''Re'' (singular) and ''Rs'' (plural) is generally used, the World Bank suggests SL Rs as a fully disambiguating abbreviation for distinction from other currencies named "rupee". History pound sterling, Sterling became Ceylon's official currency in 1825, replacing the Ceylonese rixdollar at a rate of £1 = rixdollars, and British silver coins were made legal tender. Treasury notes denominated in sterling were issued in 1827, replacing the earlier rixdollar notes. Rixdollar notes not presented for exchange were demonetized in June 1831. The Indian rupee was made Ceylon's standard coin on 26 September 18 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Sri Lanka
The Central Bank of Sri Lanka ( CBSL; ), known until 1985 as the Central Bank of Ceylon, is the central bank of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL is a body corporate with perpetual succession and a common seal. The Central Bank has administrative and financial autonomy. The CBSL has two main boards in operation, namely, the Governing Board (GB) and the Monetary Policy Board (MPB). History The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for issuing the country's money. It is a member of the Asian Clearing Union. The bank's main tasks are the conduct of monetary policy in S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Sri Lanka)
The Ministry of Finance, Economic Stabilization and National Policies (; ) (also known as the Finance Ministry or the Treasury) is a cabinet ministry of the Government of Sri Lanka responsible for developing and executing the government's public finance policy, economic policy and long term fiscal planning. The Treasury is housed at the General Treasury Building (also referred to as ''The Secretariat'') in Fort. History Although the post Treasurer of Ceylon of the British Government of Ceylon dates back to the early nineteenth century and was succeeded by the post of Financial Secretary of Ceylon under the recommendations of the Donoughmore Commission. The post of ''Ministry of Finance and the Treasury of Ceylon'' was established in 1947 under the recommendations of the Soulbury Commission under the ''Ceylon Independence Act, 1947'' and ''The Ceylon (Constitution and Independence) Orders in Council 1947''. A young J.R Jayawardena, became the first Minister of Finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, also known historically as Ceylon, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, separated from the Indian subcontinent, Indian peninsula by the Gulf of Mannar and the Palk Strait. It shares a maritime border with the Maldives in the southwest and India in the northwest. Sri Jayawardenepura Kotte is the legislative capital of Sri Lanka, while the largest city, Colombo, is the administrative and judicial capital which is the nation's political, financial and cultural centre. Kandy is the second-largest urban area and also the capital of the last native kingdom of Sri Lanka. The most spoken language Sinhala language, Sinhala, is spoken by the majority of the population (approximately 17 million). Tamil language, Tamil is also spoken by approximately five million people, making it the second most-spoken language in Sri Lanka. Sri Lanka has a population of appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employees' Trust Fund
The Employees' Trust Fund (ETF) is a social security programme established on 1 March 1981 under the Act No.46 of 1980 by the Parliament of the Sri Lanka. Contribution Where an employer first becomes liable under the provisions of this Act to contribute to the Fund in respect of any employee employed by such employer, such employee shall then become and continue to be a member of the Fund so long as there is any sum to the credit of his individual account in the Fund. Persons who are self-employed and migrant workers are also eligible to ETF membership on a voluntary basis. However the Domestic servants, Employees in religious, social or charitable institutions employing less than 10 employees, Industrial undertakings training juvenile offenders, orphans, or persons who are destitute, deaf or blind and Businesses where only family members are employed are considered as the exempts of the Act. A membership statement of account will be issued to members before 30 September ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Age Pension Systems
Age or AGE may refer to: Time and its effects * Age, the amount of time someone has been alive or something has existed ** East Asian age reckoning, an Asian system of marking age starting at 1 * Ageing or aging, the process of becoming older ** Senescence, the gradual deterioration of biological function with age ** Human development (biology) * Periodization, the process of categorizing the past into discrete named blocks of time ** Ages of Man, the stages of human existence on the Earth according to Greek mythology and its subsequent Roman interpretation ** Prehistoric age Places * AGE, the IATA airport code for Wangerooge Airfield, in Lower Saxony, Germany People * Åge, a given name * Aage, a given name * Agenore Incrocci, an Italian screenwriter Arts, entertainment, and media Fictional entities * ''Ages'', worlds in the ''Myst'' video game series Music * "Age" (song), a song by Jim and Ingrid Croce Periodicals * ''Age'' (journal), a scientific journal on ageing, no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retirement In Sri Lanka
Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when bodily conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their positions. In most countries, the idea of retirement is of recent origin, being introduced during the late-nineteenth and early-twentieth centuries. Previously, low life expectancy, lack of social security and the absence of pension arrangements meant that most workers continued to work until their death. Germany was the first country to introduce retirement benefits in 1889. Nowadays, most developed countries have systems to provide pensions on retirement in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security In Sri Lanka
Social security in Sri Lanka, refers to a system of social welfare payments provided by Sri Lankan Government to eligible Sri Lankan citizens, permanent residents, and limited international visitors, as well as other benefits for workers protected by law. History Historically the social protection needs were met by the immediate family, the extended family, and the community, which were augmented by a formal system of social security, modelled on the welfare state approach adopted in the West. In 1901, a mandatory pension scheme for civil servants was established. The 1930s saw the effects of the Great Depression and the Malaria Epidemic of 1934-35 on the poor, resulting in major social initiatives such as free education and health care by the State Council of Ceylon, followed by expansion of tax-funded hospital services and the Maternity Benefit Ordinance in 1939, giving maternity benefits for employed women. The Poor Law Relief, cash transfers to the poor were introduced in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
