EPF - Employee Provident Fund - A potential saving channel

EPF is one of the potential saving channel for those working in organized private sector. Employee provident fund consists of both the employee's and employer's contribution every month.

Everyone must keep track of their PF contributions regularly. Especially when there is a change in employment one must initiate the transfer of EPF from old account to the new one.

The return provided by EPF over the past few years has been 8.5%. For the year 2010-11, the EPF organization has decided an interest rate of 9.5%.

Voluntary contribution to EPF every month is also a good idea to save extra money month on money and to earn a relatively higher rate of interest ( Tax free). The voluntary contribution to PF would also be considered under 80c exemption for Income tax.

If you have a grievance on any EPFO for withdrawal/transfer of funds, the following link may be used to register your grievance.

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