Social security: In the words of International Labour Organisation, ‘Social Security is that security that society furnishes through appropriate organisation against certain risks to which its members are exposed.’ According to I.L.O. “Social Security” is the protection which society provides for its members through a series of public measures against the economic and social distress that otherwise would be caused by the stoppage Or substantial reduction of earnings resulting from sickness, materity, employment, injury, unemployment, invalidity, old age and death, the provision of subsidies for family with children”. The two social security measures adopted in India are: 

1. Provident Fund Scheme: Under the Employees Provident Fund and Miscellaneous provisions Act, the Central Government has established the provident fund scheme for employees. Every employee is entitled to become member of the scheme after completing three months of continuous service. Both employer and employee contribute ten percent of the basic wages. The accumulated amount of savings is payable on retirement, death or at the time of leaving service. An employee can also withdraw this amount for construction of house or various other purposes. 

2. Pension: Under the Employees Provident Funds and Miscellaneous provision act, the Government of India has framed family pension scheme to provide family pension benefits to employees. The scheme was launched with the objective of providing long term recurring financial assistance to the employee after retirement and to his family and in case of premature death while in service.