Employees' Provident Fund Organisation: Who Qualifies and What You Get
Learn how this retirement savings scheme works for employees in India and what you need to do to manage your funds.
The Employees' Provident Fund Organisation is a government-managed program designed to help workers build up savings for their retirement.
Who it's for
This scheme applies to employees working in establishments that have 20 or more employees.
What you get
You receive a dedicated retirement fund. This serves as a way to build savings over your working life to support you once you stop working.
What it costs you
The scheme is funded through monthly contributions. A set percentage of your wages is deducted from your pay, and your employer also contributes a matching amount to your fund.
The catch to know
To view your balance or manage your money, you must first complete a mandatory step called UAN activation. Without activating this, you cannot track your savings.
How to apply
- Confirm your workplace has the required number of employees.
- Check with your employer to ensure your contributions are being made.
- Complete the UAN activation process to manage your account.
- Visit the official portal for more details: https://www.epfindia.gov.in/