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EPF interest (currently 8.25% p.a.) is tax-free if withdrawn after 5 continuous years.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 personalized financial guidance?
Use Kuber.AI to understand how EPF (Employee Provident Fund) applies to your financial plan.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.