Difference between Public and Employee Provident Fund

Difference between Public and Employee Provident Fund - PPF vs EPF

People often mistook Public Provident Fund or PPF for Employee Provident Fund or EPF, though both are provident fund and backed by the government of India, they are independent of each other. The main difference between PPF and EPF is that former is totally controlled by you and only you can make a contribution on that account, on the other hand, EPF is for both you and employer to contribute money.

10 Common Car Insurance Terminologies You Must Know About

Due to a lack of information on particular words specified in the car insurance policy document, most car owners buy a car insurance policy based on its coverage and premium but do not grasp its terms and conditions. As a result, using the policy becomes more difficult. As a result, before acquiring a vehicle insurance plan, it is advisable to familiarise yourself with the most prevalent car insurance dictionary words. To help you make an informed decision, let's look at some of the most common phrases related to vehicle insurance. Terms Commonly Used Among the often used terms are: · Covers with Add-ons Additional insurance coverage, known as add-ons or riders, can be purchased in addition to a Comprehensive Plan. These plans are not available as a standalone cover or in combination with a Third-Party Plan. Coverage or service-related add-on covers are also possible. A Zero Depreciation Add-on, for example, is more of a coverage-enhancing add-on, whereas a Roads

Business Insurance Basics

Business Insurance Basics Most businesses need to purchase at least the following four types of insurance: 1. Property Insurance Property insurance compensates a business if the property used in the business is lost or damaged as the result of various types of common perils, such as fire or theft. Property insurance covers not just a building or structure but also the contents, including office furnishings, inventory, raw materials, machinery, computers and other items vital to a business’s operations. Depending on the type of policy, property insurance may include coverage for equipment breakdown, removal of debris after a fire or other destructive event, some types of water damage and other losses. Business Interruption Insurance Also known as business income insurance, business interruption insurance is a type of property insurance. A business whose property has sustained a direct physical loss such as fire damage or a damaged roof due to a tree falling on it in a windstorm and h

The Burden of Risk

The Burden of Risk The presence of risks saddles on the individual and society some measure of social and economic pains. Every risk holds the prospect of actually resulting in some economic losses and in addition some social pains. When a house is destroyed by fire, or a vehicle is ruined in a crash, or a breadwinner dies or money is stolen or you negligently injure a person or damage his property, financial losses would be involved. In addition to the financial cost of losses brought about by risk, there is the pain of fears and worries resulting from the uncertainty as to whether or not loss would occur. All these underwrite the need why a prudent individual and society should prepare for a possible occurrence of loss. The greatest burden of risk, therefore is loss. Risk put three major burden on the society: (i) The creation of adequate contingency (ii) Deprivation of society of needed goods and services (iii) The creation of per

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