Employees' Provident Fund

The Employees' Provident Fund (EPF) is a government-managed savings scheme for employees, primarily in India, that helps build a retirement fund. Both employees and employers contribute a fixed percentage of the employee’s salary monthly. The accumulated amount earns interest over time, and the employee can access or withdraw it upon retirement, leaving the service of the company, or under certain circumstances like medical or housing needs. EPF encourages long-term financial discipline and provides financial security after retirement, ensuring employees have savings to support themselves in later years.