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Repost from KEEP PRACTICING 🤓📚
🌸What is EPFO ?
💁♂EPFO is the Employees Provident Fund Organisation. It is a statutory body of the Government of India under the Ministry of Labour and Employment. It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and Insurance Scheme. It is one of the largest social security organisations in the world in terms of the number of covered beneficiaries and the volume of financial transactions undertaken.
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🌸What is Letter of Credit (LC) ?
💁♂A Letter of Credit is a payment term used for international sales transactions. It is a documentary evidence that allows importers/buyers to offer secure terms of payment to exporters/sellers in which a bank (or more than one bank) gets involved.
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