employees provident fund(epf)

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Post on 20-Jan-2017

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Employees Provident Fund :

EPF or Employees Provident Fund is commonly called as provident fund by many of us. It is a pension fund that gets contributions both from you and your employer(s).

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The contribution is limited to 12% of the employees basic wages, dearness allowance and retaining allowance (if there). The total contribution from both parties thus adds up to 24%.

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Earlier, in order to check the account balance and the funds in the EPF account, one had to have a hard copy of the PF passbook that would be checked at the bank and relevant details matched up before the cashier or checker could update the balance in the passbook as and when asked.

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Some people even had the habit of getting to check it every month. That now has become an easier way through the online porting of the EPF system. Hard copies of passbooks are no longer being issued by EPFO.

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For More Info Visit:

https://www.bankbazaar.com/saving-schemes/how-to-check-your-epf-balance-online.html