The Provident Fund (PF) is a government-managed retirement savings plan for paid professionals. It is managed by the Employees Provident Fund Organisation (EPFO), which is part of India’s Ministry of Labour and Employment. PF is a monthly system in which both the employee and the employer contribute equally to the PF account, i.e. 12 percent of the base income and Dearness Allowance (DA). The Employee Provident Fund (EPF) scheme’s purpose is to give employees with a lump sum payment when they retire. Employees can, however, take the sum before to their professional retirement, subject to certain rules and limitations. For example, an employee can withdraw PF funds to buy land, build a home, or buy a house. There are, however, … Read more