Provident fund

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Provident fund is a term for pension fund. It provides employee with lumpsum payment at the time of exit from the organisation so it differs from pension fund which have both elements of lumpsum as well monthly pension payments.As far differences from Gratuity fund is concerned although both involve lumpsum payment at employee exit from the organisation but one is defined contribution fund while other is Defined benefit fund respectively​. In specific cases, it may refer to: