{"id":7038,"date":"2025-06-25T09:56:31","date_gmt":"2025-06-25T09:56:31","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=glossary&#038;p=7038"},"modified":"2025-06-25T09:56:35","modified_gmt":"2025-06-25T09:56:35","slug":"epf","status":"publish","type":"glossary","link":"https:\/\/lemonn.co.in\/blog\/glossary\/epf\/","title":{"rendered":"EPF"},"content":{"rendered":"<h3 id=\"what-is-epf\" class=\"wp-block-heading\">What is <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/epf\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>EPF<\/a>?<\/h3>\n\n\n\n<p><strong>Employees&#x2019; Provident Fund (EPF)<\/strong> is a savings scheme designed to help employees build a retirement corpus.It&#x2019;s like a long-term piggy bank where both you and your employer contribute a fixed amount from your salary every month.<\/p>\n\n\n\n<h3 id=\"who-manages-epf\" class=\"wp-block-heading\">Who Manages EPF?<\/h3>\n\n\n\n<p>&#xE203;EPF is managed by the <strong>Employees&#x2019; Provident Fund Organisation (EPFO)<\/strong>, which is a government body under the Ministry of Labour and Employment.<\/p>\n\n\n\n<h3 id=\"how-epf-contributions-work\" class=\"wp-block-heading\">How EPF Contributions Work<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Employee Contribution<\/strong>: 12% of your basic salary + <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/dearness-allowance\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">dearness allowance<\/a>.<\/li>\n\n\n\n<li><strong>Employer Contribution<\/strong>: 12%, but only 3.67% goes to your EPF account. The remaining 8.33% goes to your <strong>EPS (Employee Pension Scheme)<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Example<\/strong>: If your basic pay is &#x20B9;20,000:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You contribute &#x20B9;2,400<\/li>\n\n\n\n<li>Employer contributes &#x20B9;2,400 (&#x20B9;734 to EPF and &#x20B9;1,666 to EPS)<\/li>\n<\/ul>\n\n\n\n<h3 id=\"uan-your-key-to-epf\" class=\"wp-block-heading\">UAN &#x2013; Your Key to EPF<\/h3>\n\n\n\n<p><strong>UAN (Universal Account Number)<\/strong> is a unique 12-digit number given to every EPF member.&#xE204; &#xE203;It helps you track your EPF accounts across different jobs and employers.<\/p>\n\n\n\n<h3 id=\"epf-interest-rate\" class=\"wp-block-heading\"><a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/epf-interest-rate\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">EPF Interest Rate<\/a><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EPF interest rate is set annually by the government.<\/li>\n\n\n\n<li>For the financial year 2023-24, the EPF interest rate is <strong>8.25%<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"when-can-you-withdraw-epf\" class=\"wp-block-heading\">When Can You Withdraw EPF?<\/h3>\n\n\n\n<p>You can withdraw from your EPF account:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>At retirement<\/li>\n\n\n\n<li>After 2 months of unemployment<\/li>\n\n\n\n<li>For emergencies like medical treatment, home purchase, education, or marriage (partial withdrawals)<\/li>\n<\/ul>\n\n\n\n<h3 id=\"how-to-check-epf-balance\" class=\"wp-block-heading\">How to Check <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/epf-balance\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">EPF Balance<\/a><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>UMANG App<\/strong>: Download and log in to check balance.<\/li>\n\n\n\n<li><strong>EPFO Website<\/strong>: Use your UAN to check passbook.<\/li>\n\n\n\n<li><strong>SMS<\/strong>: Send <code>EPFOHO UAN ENG<\/code> to 7738299899 from your registered mobile.<\/li>\n\n\n\n<li><strong>Missed Call<\/strong>: Give a missed call to 9966044425.<\/li>\n<\/ol>\n\n\n\n<h3 id=\"is-epf-safe\" class=\"wp-block-heading\">Is EPF Safe?<\/h3>\n\n\n\n<p>Yes! EPF is a <strong>government-backed<\/strong> savings scheme. Your money earns guaranteed interest and grows steadily over the years.<\/p>\n\n\n\n<h3 id=\"benefits-of-epf\" class=\"wp-block-heading\">Benefits of EPF<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Safe &amp; Secure<\/strong>: Government-regulated<\/li>\n\n\n\n<li><strong><a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/tax\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>Tax<\/a> Benefits<\/strong>: Under <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/section-80c\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Section 80C<\/a> of <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/income-tax-act\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Income Tax Act<\/a><\/li>\n\n\n\n<li><strong>Retirement Planning<\/strong>: Helps build a retirement fund<\/li>\n\n\n\n<li><strong>Insurance &amp; Pension<\/strong>: Linked with EDLI (insurance) and EPS (pension)<\/li>\n<\/ul>\n\n\n\n<h3 id=\"final-thoughts\" class=\"wp-block-heading\">Final Thoughts<\/h3>\n\n\n\n<p>EPF is one of the best ways for salaried employees to build a strong financial future. By contributing a small part of your salary regularly, you can enjoy peace of mind and financial security after retirement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is EPF? Employees&#x2019; Provident Fund (EPF) is a savings scheme designed to help employees build a retirement corpus.It&#x2019;s like a long-term piggy bank where both you and your employer contribute a fixed amount from your salary every month. Who Manages EPF? &#xE203;EPF is managed by the Employees&#x2019; Provident Fund Organisation (EPFO), which is a [&#x2026;]<\/p>\n","protected":false},"author":9,"featured_media":0,"menu_order":0,"template":"","meta":{"footnotes":""},"class_list":["post-7038","glossary","type-glossary","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/glossary"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/9"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7038\/revisions"}],"predecessor-version":[{"id":7039,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7038\/revisions\/7039"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=7038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}