Employees Provident Fund

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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/epf.html
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