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The EPF is created by the Employees Provident Fund Organization (EPFO) of India, a statutory body of the Indian Government under the Labor and Employment Ministry. It states that an organization having 20 or more permanent employees on its payroll, should register with the EPFO.
A Provident Fund is a fund that is created, through contributions, to provide financial support to individuals in their future (Specifically for post-retirement). The Employee Provident Fund is just such a fund. Contributions are made on a monthly basis, by both employees and employers, thereby encouraging employees to save a portion of their salary each month. Investments made by millions of employees across India are pooled together and invested by a trust.
The EPF is a tax free investment instrument for the salaried class. Interest earned on it is tax free, and returns are also not taxed. You also get a deduction under Section 80C for contributions made towards your EPF.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoWhat is the Employee Provident Fund (EPF)?
The EPF is created by the Employees Provident Fund Organization (EPFO) of India, a statutory body of the Indian Government under the Labor and Employment Ministry. It states that an organization having 20 or more permanent employees on its payroll, should register with the EPFO.
A Provident Fund is a fund that is created, through contributions, to provide financial support to individuals in their future (Specifically for post-retirement). The Employee Provident Fund is just such a fund. Contributions are made on a monthly basis, by both employees and employers, thereby encouraging employees to save a portion of their salary each month. Investments made by millions of employees across India are pooled together and invested by a trust.
The EPF is a tax free investment instrument for the salaried class. Interest earned on it is tax free, and returns are also not taxed. You also get a deduction under Section 80C for contributions made towards your EPF.
Wiki User
∙ 11y ago12%
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Who is maintaining contributory provident fund account of tamilnadu govt employees?
The government of Tamil Nadu
How do you check maharashtra state electricity distribution company employee contributory provident fund checking?
If you are part of the National Provident Fund - You can visit your nearest EPF office or try to check your balance online in the EPF website. If your company has thousands of employees and has its own PF fund, then you need to contact your employer
When was Central Provident Fund created?
Central Provident Fund was created in 1955.
What is the interest rate on unrecognized provident fund?
There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year
Which one is better between voluntary provident fund and public provident fund?
VPF
How many FDI in provident fund?
None. The Indian government does not allow FID in provident fund
Is there necessary to sign of previous employer to get provident fund?
Yes. The Employers signature/attestation is required to get the provident fund
Can you deduct provident fund on conveyance?
No
What is the expansion of pF?
Provident Fund
When provident fund is implemented?
1952
Is Government Provident Fund money falls into Riba category?
Yes, the interest paid by provident fund will fall into riba category
How many staff should be in a company to start provident fund?
how many staff should e in a company to start provident fund
