The aim of the EPF scheme is to promote retirement savings for employees across India. The Employees’ Provident Fund (EPF) is a corpus of funds built through regular, monthly, contributions made by an employee and his/her employer. 

1. Facts about Provident
Fund(PF)

2. Agenda
PF
Real Benefits of the EPF Scheme
Eligibility to get PF
EPF Contribution
EPF Interest Rate

3. Provident Fund(PF):
The aim of the EPF scheme is to promote retirement savings for employees across India.
The Employees’ Provident Fund (EPF) is a corpus of funds built through regular, monthly,
contributions made by an employee and his/her employer.
Employees earn interest on their EPF balances.
It also offers financial security in times of emergency and if an employee is rendered unfit
for unemployment.

4. Real Benefits of the EPF Scheme
Tax-free earnings - Contributions made towards EPF are tax deductible u/s 80C of the
Income Tax Act, 1956.
Financial Security - Funds in the account are not easy to withdraw and so savings is
ensured.
Retirement - Provides financial security at time of retirement.
Emergencies - The funds are also useful in times of emergencies to meet certain
requirements for which premature withdrawals are allowed in certain cases

5. Loss of income - If an employee for some reason cannot work any longer, these funds help
tide over loss of income.
Long-term savings option - This is a sound savings option for employees with long-term
investment goals.
Universal access - Employees can transfer their accounts when they change employers
and with the introduction of the Universal Account Number (UAN) they can now access their
EPF accounts through a single-point.

6. Eligibility to get PF
To avail benefits of the EPF scheme, employees have to become members of the provident
fund.
Employees are eligible for membership on the day of joining an establishment. This
includes eligibility for provident funds, insurance and pension.

7. Eligibility to get PF
Establishments with 20 or more employees have to provide PF to their employees.
The Act does not apply to the State of Jammu and Kashmir.

8. EPF Contribution
Monthly basis
Fixed rate
Made by both employee and employer
Based on the basic pay of employee and DA
Contributions at 12% of Basic

9. EPF Interest Rate:
Current interest rate at 8.65%
Interest earned is tax-exempted
Interest calculated on monthly balances, credited annually
No interest on withdrawn amount
No interest on amount towards EPS by employer

10. Click here for more about EPF
https://www.bankbazaar.com/saving-schemes/epf.html