PF: Provident Fund
PF Full Form
PF full form stands for Provident Fund. Provident fund is another name for the pension fund. The purpose is to pay employees a lump sum when they leave the workplace. This is different from pension funds, which have elements of monthly pension payments with both salaries.
As far as the difference between a gratuity and the provident fund is concerned, although both types involve payment of a fixed compensation at the end of the job, the former acts as a benefit plan, while the latter is a partnership scheme.
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