Provident Fund or PF is a compulsory contributory fund for the future of employees. It works as a corpus fund generated through regular and monthly contributions made by an employee and employer. A minimum of 12% is calculated from the basic component of the employee’s salary and contributed as PF is deducted from the CTC. The cumulative contribution of the employer and employee will be added to the PF account of the employee, which can be en-cashed for future purposes. Companies will have to stay EPFO complaints once they have 20 or more employees.
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