Meaning
The Employee Provident Fund (EPF) is a key social security scheme for employees.Definition
EPF, or Employee Provident Fund, is a mandatory retirement savings scheme in India, providing financial security post-retirement.How It Works
Both employee and employer contribute a percentage of the employee’s basic salary and dearness allowance to the EPF account. These contributions accumulate and earn interest.Benefits
EPF builds a reliable corpus for retirement and offers tax benefits under Section 80C of the Income Tax Act.Author
