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Private provident funds existed in the private sector, with some companies contributing on a voluntary basis until 1958, when the Employees' Provident Fund was established by S. W. R. D. Bandaranaike following the enactment of the Employees' Provident Fund Act No 15 of 1958 which established the Employees' Provident Fund which made it compulsory for all employers and employees to contribute if ...
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...
The Sri Lanka Bureau of Foreign Employment (SLBFE) is a government agency of Sri Lanka, tasked with overseeing overseas employment of Sri Lankan Citizens and their welfare. It was established in 1985, under the provisions of the Sri Lanka Bureau of Foreign Employment Act. No. 21 of 1985 from which it derives its remit and powers. [1]
Sri Lanka Railway Authority. Sri Lanka Rubber Manufacturing Export Co. Ltd. Sri Lanka Rupavahini Corporation. Sri Lanka State Plantations Corporation. Sri Lanka Transport Board. State Development & Construction Corporation. State Engineering Corporation of Sri Lanka. State Mortgage & Investment Bank. State Pharmaceuticals Corporation of Sri Lanka.
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [4]
Location of Sri Lanka. Sri Lanka is an island country located southeast of the Republic of India and northeast of the Maldives. According to the International Monetary Fund, Sri Lanka's GDP in terms of purchasing power parity is second only to the Maldives in the South Asian region in terms of per capita income.
The Public Services of Sri Lanka are a series of services groups that provide specialized professional services to the Government of Sri Lanka. These are government employees who carry out public duties, however they are not elected officials. The most senior of these is the Sri Lanka Administrative Service which is the country's permanent ...
e. Employee benefits and benefits in kind (especially in British English ), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. [ 1] Instances where an employee exchanges (cash) wages for some other form of benefit is generally ...