Everything You Need to Know About EPF (Employees’ Provident Fund)

Everything You Need to Know About EPF (Employees’ Provident Fund) Introduction Employees’ Provident Fund (EPF) is one of the most popular and significant social security schemes for salaried employees in India. Managed by the Employees’ Provident Fund Organisation (EPFO) , it ensures that employees build a financial cushion for their retirement, emergency needs, or long-term goals. This article will explain what EPF is, its benefits, eligibility, contributions, withdrawal rules, tax implications, and much more — everything you need to understand this important savings instrument. What is EPF? The Employees’ Provident Fund (EPF) is a retirement benefits scheme governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 . Both the employee and employer contribute a specific percentage of the employee’s salary towards the fund every month. Over time, the accumulated corpus (with interest) becomes a sizable amount available to the employee at retirement o...