Employee Provident Fund (EPF) is a retirement benefits scheme available to employees. Here are some key features and benefits of the scheme:

• EPF is a mandatory contribution scheme for employees with 12% of the basic salary and dearness allowance being contributed towards it by the employer and employee.

• The EPF balance earns interest at a rate declared by the government annually.

• The scheme also provides a life insurance cover of up to Rs. 7 lakhs, in case of the employee's death while in service.

• The EPF scheme is portable, which means that the account can be transferred from one employer to another.

• The EPF scheme also allows partial withdrawals for specific purposes such as home purchase, medical treatment, etc.

• EPF scheme is an excellent retirement savings tool as it provides a lump sum amount at the time of retirement or resignation.

By understanding the EPF scheme, employees can plan their retirement effectively. Every employee should contribute towards this scheme to secure their future.