A
4.17% out of the total 12% provident fund contribution
B
8.33% out of the employer's 12% provident fund contribution
C
The entire 12% employer provident fund contribution
D
An additional 5% grant provided directly by the Ministry of Finance
Correct answer: (b) 8.33% out of the employer's 12% provident fund contribution
Explanation
The Employees' Pension Scheme (EPS) is financed by 8.33% of the employer's 12% provident fund contribution. Thus, option B is correct while others incorrectly state the financing ratios or sources.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2020 · Q140 · UPPGS
Which of the following statements is NOT correct for National Pension Scheme for Retail Traders/ Shopkeepers and Self-employed persons? -
2024 · Q117 · UPPGS
With reference to India, consider the following events: 1. Nationalisation of Banks 2. Formation of Regional Rural Banks 3. Adoption of villages by Bank Branches Which of the above events can be considered as steps taken to achieve "financial inclusion in India"? Select the correct answer from the code given below: