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An explainer on everyone’s favourite EPF
Finshots Daily
How Does the Employee Provident Fund (EPFO) Work?
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The employee provident fund, or the e p f, has grown into a veritable payment it has 60 million members and managers nearly 18 lacorpies. The promised interest doesn't actually get paid out to us; instead, it accumulates in our e p f account,. We can withdraw it come retirement or in the event of emergencies. It keeps a bit of interest to build a buffalo, you know, for emergencies. And they performed this exercise every year. But in 20 20, the e pf o did something quite odd. Like always, it said that it would pay an interest rate of eight point five percent for f y 20. But then it introduced a twist. First
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