Paragraph match score 80.7%
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What are PF and EPF?
Employees' Provident Fund (EPF): A specific type of PF applicable to salaried employees under the Employees' Provident Fund Organisation (EPFO) in India.
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All About Employees Provident Fund (EPF)
Initiated by Employee Provident Fund Organization (EPFO), Employees’ Provident Fund (EPF) is a saving scheme that offer retirement benefits to its account holders. You can use it just like any other retirement plan . Both the employee and employer make contributions to the scheme every month in equal proportions. The employee contributes 12%, whereas the employer contributes around 8.43% to the EPF scheme. Basically, EPF is a welfare scheme for the benefit of employees. The interest earned on the investment made in EPF is credited in the PF account of the employees.