Definition of provident fund in English:
(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.
- 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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