BIL started the Private Provident Fund scheme with effect from 24th May, 2010 as approved by the RMA vide their letter number RMA/FISD/18/2009/8891. This scheme can be availed by both private and other agencies. PPF is a mandatory, tax qualified, defined contribution benefit plan wherein equal contribution at the specified rate is made by the employer and the employee, and the same is payable in lump sum along with accrued interest on retirement or employee at the time of employee separation from service.

Any enterprise or organizations are eligible for PPF scheme. However, as per the labour and employment Act 2007, it is mandatory to have PPF Scheme if the no of employees are 10 or more in numbers.

Benefit from Scheme:

• Guarantee risk free return
• PPF contribution are tax deduction 
• Can avail loan against PF accumulation 
• Better fund management
• Better employee retention
• Easy refund procedure