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ARTICLE · 19 APRIL 2016

EPF Withdrawals Made Easy - Employer Attestations No Longer Required

The government permits employers to manage own provident fund schemes, provided they comply with certain conditions.

IndiaEmployment and HR

Just as government employees in India are provided social security during retirement in the form of pensions, non-government employees are protected under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (the "EPF Act").  The employees' provident fund under this Act plays a very important role in building up the corpus to be used during the post-retirement stage of an employee.  Employees covered under the EPF Act contribute 12% of their wages every month towards their provident fund.  The employer in turn makes a matching contribution to the fund.  The money goes into a fund managed by the Employees' Provident Fund Organization or EPFO, the apex decision making body, under the aegis of the Ministry of Labour and Employment.

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