Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
Employee Provident Fund is a mandatory retirement savings scheme where employees and employers contribute a percentage of basic salary monthly.
EPF is the retirement pot deducted from your salary every month — you plus employer contribute, and it grows with interest till retirement.
EPFO administers the fund. Employee contributes 12% of basic; employer matches 12% with split to EPS and EPF. Interest rate declared annually by EPFO. Partial withdrawals allowed for house, marriage, medical under EPF Scheme rules.
Basic salary ₹30,000 → employee EPF ₹3,600 + employer ₹3,600 monthly. At 8.25% interest over 30 years, corpus can exceed ₹1 crore with salary growth.
Full withdrawal allowed on retirement, unemployment beyond 2 months, or migration abroad. Partial withdrawals for specific life events per EPFO rules.
Exempt while accumulating for most employees. Interest on contributions above ₹2.5 lakh annual employer+employee may be taxable per current rules.
File Form 13 online via EPFO unified portal or auto-transfer if UAN linked and KYC complete with new employer.