Employees’ Provident Fund Organisation is the retirement fund body that allows employees to withdraw amount from the employee EPF account.
EPF or Employees’ Provident Fund Scheme is the savings done by the employee for their retirement years. It is the saving scheme where the employee contributes a small portion, i.e., 12% of their basic pay every month and on the other hand, the employers also contribute the same amount in the account. Such contributions together become a corpus at the time of retirement, and it can be used during the retirement years of the employees. However, EPF Withdrawal can also be made earlier to their retirement during the course of their employment under certain circumstances. However, it is essential for