EPF INFORMATION and EPF Calculation
What is EPF? While government employees enjoy the social security of availing pension, people working in private companies do not have this option. An Employee Provident Fund is a retirement benefit scheme that is meant for all salaried employees. The Employees Provident Fund Organization of India (EFPO) maintains and oversees the EPF. All companies that have more than 20 employees are mandated by law to register with the EFPO. The EPF works as a savings scheme for employees where a fraction of their salary every month is saved. This fund can be availed when you retire or when you are unable to work. This scheme can put your mind at ease as you will not need to depend on anyone for your expenses when you no longer work. Benefits of EPF 1. You can nominate a family member as your nominee, so that they can avail the pension or the corpus in the event of your demise 2. You get a fixed income once you retire, without having to work 3. EPF allows you to invest more th...