The Employees Provident Fund Organization is a statutory body of the Indian Government under Labor and Employment Ministry. It administers a compulsory contributory Provident fund, pension and an insurance scheme for Indian Work force. It is mandatory for every organization that has more than 20 employees on the payroll.
EPF scheme benefits employees in following essential needs.
A member can withdraw up to 90% of the amount of provident fund at credit after attaining the age of 54 years of age or within one year before actual retirement on superannuation whichever is later.