Secure your employees' future with mandatory EPF registration. We provide end-to-end assistance in obtaining your EPF code and ensuring continuous compliance with EPFO regulations.
The Employees' Provident Fund (EPF) is a mandatory social security scheme under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. It is managed by the Employees' Provident Fund Organisation (EPFO) and serves as a long-term savings tool for employees in India.
Both the employer and the employee contribute a fixed percentage (usually 12%) of the employee's basic salary plus dearness allowance into the EPF account. This accumulated amount, along with interest, provides financial stability to the employee upon retirement, or in certain cases, during employment.
EPF acts as a robust financial safety net for employees, providing them with a significant corpus at the time of retirement, resignation, or in cases of death/disability.
Contributions made by the employer to the EPF are tax-deductible for the employer, while employee contributions are eligible for deductions under Section 80C of the Income Tax Act.
A portion of the employer's contribution (8.33%) goes towards the Employee Pension Scheme (EPS), ensuring a stable monthly income after retirement.
The EPF scheme allows members to withdraw funds for specific purposes such as medical emergencies, home construction/purchase, higher education, or marriage.
