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Exit Guide

What is Employee Provident Fund?

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    You can save for retirement with an EPF.

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    Only employed people can save in EPF.

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    Employee and Employer both contribute 12% of salary towards the EPF.

Consider the following to better understand how EPF works:

Amount needed to open EPF 12% of monthly salary
Rate of interest 8.5%
Lock- in period Money can be withdrawn only after retirement

Quick Tip

Partial withdrawal is allowed in the case of an emergency such as early retirement or unemployment. You have to make an official request for withdrawal which is settled in 20 days.

Quick Tip

On approval of your request, you can withdraw three months basic salary plus dearness allowance OR 75% of the net balance in the PF account- whichever of the two is lower.

Jump into next section to know about how to get an EPF

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