Employees' Provident Fund (EPF)

The Employees' Provident Fund (EPF) is a retirement savings scheme for salaried employees, where both employees and employers contribute a fixed percentage of the employee's salary each month. The accumulated funds earn interest over time and are accessible to employees upon retirement or under specific circumstances like emergency or unemployment. The EPF aims to promote financial security for employees after their working years and provides a disciplined method to save regularly for the future while offering tax benefits on contributions and interest.