Karmachari Sanchaya Kosh (EPF) — Practice Quiz (Set 2)By sushil / October 6, 2026 Karmachari Sanchaya Kosh (EPF) — Practice Quiz (Set 2) 10 questions · 15 minute time limit Start Quiz You can take this quiz as a guest. Log in first if you want it saved to your progress history. Karmachari Sanchaya Kosh (Employees Provident Fund) in Nepal primarily serves as a: Commercial lending bank Retirement and social security savings fund for employees Stock exchange regulator Tax collection authority Contributions to an employee provident fund scheme are typically made by: Only the government Only the employee Both the employee and the employer Only foreign donors A core benefit an EPF member can typically claim their accumulated balance for, besides retirement, is: Buying lottery tickets A loan or withdrawal facility for purposes such as home construction Paying traffic fines Funding foreign travel for leisure only In the event of a contributing employeeu2019s death before retirement, provident fund balances are generally: Forfeited entirely Paid to the designated nominee or legal heirs Transferred to the government treasury Donated to charity automatically Which of the following best describes the main advantage of a provident fund scheme for long-term savers? High-risk speculative returns Forced disciplined savings accumulated over a working career with employer contribution No need to ever contribute Guaranteed daily liquidity like a current account Karmachari Sanchaya Kosh mainly serves employees from which sectors? Only self-employed farmers Government and private organized-sector employees who are enrolled members Only foreign diplomats Only students The legal basis for the establishment and operation of Nepalu2019s Employees Provident Fund is provided by: The Companies Act A dedicated Employees Provident Fund Act The Insurance Act The Negotiable Instruments Act How does an employee provident fund differ from a pension scheme? They are identical in every respect A provident fund typically pays a lump sum of accumulated contributions plus returns, while a pension often pays a periodic income after retirement Provident funds only exist for government staff Pension schemes never involve employer contributions Funds accumulated in a national provident fund are generally invested in: Only cash kept idle in a vault A mix of relatively secure instruments such as government securities and fixed deposits to safeguard membersu2019 savings Only foreign real estate Only cryptocurrency assets Why is early and continuous contribution to a provident fund scheme considered advantageous for an employee? It has no real benefit It allows contributions and returns to compound over a longer period, building a larger retirement corpus It reduces the employeeu2019s current salary It is required only in the final year of service Submit Quiz
