Home PYQs UPPSC UPPSC MCQs Prelims 1998 (GS Paper I)

Question

Provident Fund in India is

  1. Contractual savings
  2. Residual Savings
  3. Voluntary Savings
  4. Employers savings

Answer:

Option A: Contractual savings

Detailed Solution:

The correct answer is “Contractual savings”.

Provident fund in India is contract based savings. Provident fund is the portion of the income of public sector employees that has to be deposited with the government on contract basis.