EMPLOYEES PROVIDENT FUND

The Employee Provident Fund (EPF) is a government-backed retirement savings scheme for salaried employees in India, managed by the Employees’ Provident Fund Organisation (EPFO). Both the employee and employer contribute 12% of the employee’s basic salary each month to the fund, helping build a secure financial corpus for retirement. EPF offers benefits such as attractive, tax-free interest, partial withdrawals for emergencies, and a lump-sum payout upon retirement. The scheme also provides pension and insurance coverage, making it a comprehensive tool for long-term financial security for the workforce