What is EPF?


EPF stands for Employees’ Provident Fund, which is a savings scheme created for the benefit of employees in India. This scheme is managed and operated by the Employees’ Provident Fund Organisation (EPFO) and is available to all employees working in the organized sector.

The EPF scheme is a compulsory contribution scheme, where both the employer and the employee contribute a fixed percentage of the employee’s salary every month. The current rate of contribution is 12% of the employee’s basic salary and dearness allowance (DA), which is matched by the employer.

The contributions made by the employee are deducted from their salary every month, and the employer is required to deposit the total contribution amount in the employee’s EPF account by the 15th of every month. The contributions are made to three different accounts, which are the EPF account, the Employees’ Pension Scheme (EPS) account, and the Employees’ Deposit Linked Insurance (EDLI) account.

The EPF account is the primary account where the contributions are made. The contributions made to this account earn interest, and the current interest rate is 8.5% per annum. The balance in this account can be withdrawn by the employee when they retire or after a certain period of service.

The EPS account is a pension scheme that is available to employees who have completed ten years of service. The contributions made to this account are used to provide a pension to the employee after their retirement.

The EDLI account is an insurance scheme that provides life insurance coverage to employees. The contributions made to this account are used to provide a life insurance payout to the employee’s nominee in case of their untimely demise.

EPF is a valuable scheme for employees as it provides them with a savings fund that can be used after their retirement or in case of an emergency. It also provides employees with a social security net by offering them pension and life insurance benefits.


EPF is a savings scheme that is compulsory for all employees in the organized sector in India. It is managed and operated by the EPFO and offers a valuable social security net to employees by providing them with a savings fund, pension, and life insurance benefits. If you are an employee in India, it is important to understand the EPF scheme and make the most of its benefits.

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