Employee Provident Fund is a very important investment for the necessities of our future. The tax-free interest and the maturity award ensure a very good growth to your money. If the PF money continued for a very long period of time, it can help in meeting employees' requirements including his retirement goals. We often fall short of funds during emergencies and at those moments borrowing is the only option left. At this time the EPF can be very helpful because the kinds of benefits it provides no other investment can offer similar remunerations. Employees’ Provident Fund Organization (EPFO) is a statutory body incepted by the government of India. Being the country’s largest social security organization, it mainly encourages people to save for retirement, among others. EPFO comes under the purview of the Ministry of Labour and Employment and was established in 1951. The Constitution of India under the ‘Directive Principles of State Policy’ specifies that the State shall make effective provision for securing the right to work, education, and public assistance in cases of unemployment, old age, sickness and disablement, and undeserved want within the limits of its economic capacity.
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