The 'Employees' Provident Fund' contribution is deposited by: MCQ with Answer and Explanation

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The 'Employees' Provident Fund' contribution is deposited by:

A. both employer and employee

B. employee only

C. employer only

D. government only

Answer: Option A

Solution (By JKSSB Mock Tests)

EPF contribution is made by both employer and employee.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on religious pilgrimage tours is:

A. 0%

B. 12%

C. 18%

D. 5%

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Correct Answer: Option D

Explanation:
Religious pilgrimage tours attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'State Bank of India' was created in 1955 by amalgamating which bank?

A. Imperial Bank of India

B. Bank of Bombay

C. Bank of Calcutta

D. Bank of Madras

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Correct Answer: Option A

Explanation:
The State Bank of India was formed in 1955 by taking over the Imperial Bank of India.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Third Five Year Plan' period was:

A. 1966-1971

B. 1969-1974

C. 1961-1966

D. 1956-1961

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Correct Answer: Option C

Explanation:
The Third Five Year Plan covered 1961-1966.

This question belongs to: Economy GK Economy Set 1

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