EPF (Employee Provident Fund)
Definition
Mandatory retirement savings scheme for salaried employees, with 12% of basic salary deducted monthly from employee + 12% contributed by employer.
In Context
EPF interest (currently 8.25% p.a.) is tax-free if withdrawn after 5 continuous years. Early withdrawal taxed as income. Employee contribution qualifies for 80C deduction. Check your UAN account on EPFO portal.
Related Terms
Want this in plain language?
Ask Kuber.AI to explain how EPF (Employee Provident Fund) works, in the language you think in.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.