14/01/2023 09:34 AM | Click to read full article
Employee Provident Fund (EPF) is a retirement benefits scheme for salaried employees of the private sector. It is managed by the Employees' Provident Fund Organization (EPFO). In the EPF account, there is a contribution from both the employer and the employer. This contribution is 12-12 per cent of the basic salary plus dearness allowance. The interest rates of EPF are fixed every year by the government. Annual interest for FY23 is 8.1 per cent.