EPF or Employees’ Provident Fund is a government-operated savings scheme for all those individuals who are employees in the organised sector. EPF rate is determined by the Employees Provident Fund Organisation (EPFO), the main EPF agency under the Employees’ Provident Fund Act, 1956.

All employees in India, who work in companies with over 20 employees, get an involuntary Provident Fund account opened in their names.

Every employee contributes 12% of his/her salary towards the EPF, while an employer pays another 12%, out of which 8.33% is invested in the Employee's Pension Scheme (EPS) while the balance 3.67% is invested in EPF.