Question

What are Social Security taxes used for? (Select the best answer.)

a) Income for retired and disabled people
b) Building schools and playground
c)Medical benefits for people ages 65 and over
d) Unemployment

Answer 1

b

Step-by-step explanation:

building schools and playground

Answer 2

Social Security Tax collected are distributed as the pension after retirement and fund for disabled.

Answer: Option a

Step-by-step explanation:

Any government that help the people with disability and of old age with financial assistance is Social Security. It is collected from every single employers and employees on the basis of their earnings.

In India, it covers the pension, medical benefits, disability benefits and health benefits and is collected as PF (Provident Fund), the individuals who are liable are required to pay the tax with a social motive. The current EPF rate is 12% so, every employee who are liable must contribute 12% from the basic salary.