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provident fund

Line breaks: provi|dent fund

Definition of provident fund in English:

noun

(Especially in South East Asia) an investment fund contributed to by employees, employers, and (sometimes) the state, out of which a lump sum is provided to each employee on retirement.
Example sentences
  • The doctors accuse the college management of not paying gratuities, provident funds and other allowances.
  • The workers are also demanding an increase in their provident funds, shift allowance and annual bonuses.
  • Chief executive Mark Konyn said he expects regional stock markets will rise in the final months of this year, giving mandatory provident funds a boost.

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Word of the day orthoepy
Pronunciation: ˈɔːθəʊɛpi
noun
the correct or accepted pronunciation of words