EPF Contribution Breakdown: EPFO (Employees Provident Fund Organisation) provides an important social security scheme to crores of employees of the country. There are crores of employees in the country who have a PF account.
A part of the salary of employees working in the organized sector is deducted and deposited in their PF account every month. This money works to secure the life of the employee at the financial level after retirement. Due to this, the money deposited in the PF account becomes a source of stable income in the old age of the employees. The money deposited in the PF account has a joint contribution by the employee and the employer (company) every month. Often people have this question that how much part of PF is deducted from your salary and how much is given by the company?
Many employees in the country are not aware of this. If you also want to know about this then this news is especially for you. Today we are going to tell you about this. Let’s know –
12% of your basic salary is deducted and deposited in your PF account. The company also contributes 12%. Due to this, 24% of your total salary gets deposited in your PF account every month.
The government also gives attractive interest rates on the money deposited in the PF account. The government revises the interest rates on the money deposited in the PF account every year.
A part of the money deposited in the PF account also goes to the pension fund. The remaining amount keeps getting deposited in your PF account. At present, you are getting an interest rate of about 8.25 percent on the money deposited in the PF account.
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