Provident Fund vs Gratuity Fund

Provident Fund vs Gratuity Fund: What Should Be Implemented First in Your Organization?

Provident Fund vs Gratuity Fund: What Should Be Implemented First in Your Organization? In the dynamic business environment of Bangladesh, organizations must navigate a myriad of compliance regulations under both the Bangladesh Labour Act 2006 and the Income Tax Act 2023. Two critical components of employee benefits are the Provident Fund (PF) and the Gratuity…

Why Should You Consider Implementing Provident Fund

Why Should You Consider Implementing Provident Fund (PF)?

Why Should You Consider Implementing Provident Fund (PF)? While PF is not mandatory for all companies, there are compelling reasons why organizations should consider it. Here are some of the main advantages: Tax Benefits:✅ Both the employer and employee contributions to the Provident Fund are tax-exempt (if NBR-approved), making it a highly tax-efficient benefit for…