Provident fund
A savings fund built from regular contributions by an employee and usually their employer, paid out when the employee leaves.
A provident fund holds money set aside for each member. Contributions are deducted through payroll, and the employer often adds a matching amount. The balance belongs to the member subject to the fund’s rules.
A reliable fund keeps a register where each balance is derived from an opening figure and every posted contribution, with any fund loan shown beside it. That makes the balance something you can rebuild and prove.
General information, not tax or legal advice.
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