Employees' Provident Fund (EPF)

iAbout This Scheme

EPF is a mandatory provident fund scheme for employees in the organised sector under the EPF & MP Act 1952, administered by EPFO. Both employer and employee contribute 12% of basic wages each month. The accumulated fund earns an annual interest rate declared by the government (8.25% for 2023-24) and is payable on retirement, resignation, or in specified circumstances.

🎁Key Benefits

12% employee + 12% employer contribution on basic wages
Interest rate 8.25% per annum (FY 2023-24) declared by Central Board
Tax-free maturity proceeds (EEE status)
Partial withdrawal allowed for housing, medical, education, marriage
Online access to EPF passbook and claim submission via EPFO portal
Universal Account Number (UAN) for portability across employers

✅Eligibility Criteria

1
Employees earning up to ₹15,000/month (mandatory coverage)
2
Employees above ₹15,000/month can opt in voluntarily
3
Establishments with 20 or more employees mandatorily covered

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📝How to Apply

1

Employer Enrollment

Employer registers with EPFO; deducts contribution from salary.

2

UAN Allotment

EPFO allots Universal Account Number to employee.

3

KYC Seeding

Employee seeds Aadhaar, PAN and bank details on UAN portal.

❓Frequently Asked Questions

Can I withdraw EPF while employed?

Partial withdrawal allowed for specific purposes; full withdrawal only on retirement or 2 months unemployment.