The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 mandates retirement savings contributions from both employer and employee.
Contribution Rates
| Contributor | Rate |
|---|---|
| Employee | 12% of basic salary + DA |
| Employer | 12% of basic salary + DA (split: 8.33% to EPS, 3.67% to EPF) |
Who Is Covered?
- Establishments with 20 or more employees
- Employees earning up to ₹15,000/month are mandatorily covered
- Employees earning above ₹15,000 can opt in voluntarily
Three Schemes Under EPF
- EPF (Employee Provident Fund) — retirement corpus
- EPS (Employee Pension Scheme) — monthly pension after retirement
- EDLI (Employee Deposit Linked Insurance) — life insurance cover up to ₹7 lakh
Your Rights
- Check balance via EPFO portal (epfindia.gov.in) or UMANG app
- Transfer PF when changing jobs using UAN (Universal Account Number)
- Withdraw partially for medical emergencies, home purchase, education
- Full withdrawal only after 2 months of unemployment
Your UAN (Universal Account Number) stays the same throughout your career — always link it to your Aadhaar and bank account.