![]() Reasons for PF withdrawal What is a Provident Fund?Ī retirement savings plan for salaried employees who work for a company with 20 or more employees is known as an Employee Provident Fund (EPF).Īll employers are required to contribute a part of their employee's salary to the Employee Provident Fund Organization of India, or EPFO.What are the Eligibility Criteria for EPF?.Your employer's EPF contribution will remain at 12 percent during this time.įirst of all you should know what a Provident Fund is! Table of contents To contribute to the EPF, you and your employer must each transfer 10% or 12% of your basic pay.įor the first three years, however, if you are a woman, you only need to contribute 8% of your basic salary. ![]() The employer's contribution will not be credited to your account if this is not done. Did you know? It is required to link your Aadhaar with your EPF account as of June 1st, 2021.
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