Examples of EPF Plan in a sentence
The EPF Plan is a multi-employer plan consisting of approximately 120 participating companies, mainly affiliates of Sumitomo Corporation.
Benefits under the EPF Plan are based on years of service and the employee’s compensation during the five years before retirement.The assets of the EPF Plan are co-mingled and no assets are separately identifiable for any one participating company.
All redemption proceeds from your EPF Plan account will be credited to your EPF account) ONLINE CREDIT* Bank Account No. PAYABLE TOFirst Applicant Joint ApplicantBoth Applicants - Joint bank account requiredBank NameBank Branch OTHERS *All applicable bank charges are to be borne by investors.
Any shortfalls in plan funding are charged to participating companies on a ‘share-of-contribution’ basis through ’special contributions’ spread over a period of years determined by the EPF Plan as being appropriate.
JPC accounts for the EPF Plan in accordance with the provisions of SFAS No. 87, governing multi-employer plans.