5 benefits of provident fund and why employers should have it
Employee benefits are one of the deciding factors people use to choose a company they want to work with. These benefits may include bonuses, health insurance, incentives, and a provident fund, which is like saving for the pension fund of salary people.
A provident fund gains its capital from ‘contributions’ made by both employers and employees, which are tax also deductible. A provident fund can essentially strengthen employees’ sense of mental and financial stability while working for a company.
From the employer’s point of view, providing a provident fund for your staffers can benefit your company in many aspects, including:
- Reduce quitting rate, as employees are feeling more secure and bonded with the company through provided benefits.
- Employer’s contribution to the fund is tax-deductible.
- Help attract new talents to join the organization by promoting the corporate image as a stable and caring employer.
- Reduce disagreement in labour- and benefit-related issues, as employees will feel that they are treated fairly and not being taken advantage of.
- Reduce the company’s burden on fund management, accounting, and financial reports, as the fund manager will be responsible for these tasks.
If you are interested in Principal’s provident fund, please visit https://www.principal.th/th/provident-fund
To set up a provident fund with us, contact https://forms.gle/4zFsHYu77GBd47AJ8
For more information, visit https://www.principal.th/ or Tel. 02-686-9500 press 2
Investors should study the conditions, returns, and risks of the funds before investing. Past turnover does not guarantee future turnover.
