What is PF / EPF (Provident Fund)?
PF/EPF (Employees' Provident Fund) is a retirement savings scheme where you and your employer each contribute a portion of your basic pay every month.
Updated 2026-07-25 · one of 47 terms in the OnJob career glossary
Key takeaways
- PF/EPF (Employees' Provident Fund) is a retirement savings scheme where you and your employer each contribute a portion of your basic pay every month.
- Also called Provident Fund, Employees' Provident Fund, EPF.
- In India, EPF is mandatory for most establishments above a certain size.
- Your PF contribution is deducted from your gross salary, which is one reason in-hand pay is lower than gross.
What does PF / EPF (Provident Fund) mean?
The Employees' Provident Fund is a government-backed retirement savings scheme administered by the EPFO. Each month a percentage of your basic pay is contributed by you, with a matching contribution from your employer, into your PF account.
How does PF / EPF (Provident Fund) work in India?
In India, EPF is mandatory for most establishments above a certain size. The accumulated balance earns interest and can be withdrawn or transferred when you change jobs, and your contributions may qualify for tax benefits.
Why does PF / EPF (Provident Fund) matter to a jobseeker?
Your PF contribution is deducted from your gross salary, which is one reason in-hand pay is lower than gross. When switching jobs, transferring your PF account using your UAN keeps your retirement savings continuous.
Is PF / EPF (Provident Fund) the same as Employees' Provident Fund?
Yes — PF / EPF (Provident Fund) is also commonly called Provident Fund, Employees' Provident Fund, EPF. PF/EPF (Employees' Provident Fund) is a retirement savings scheme where you and your employer each contribute a portion of your basic pay every month.
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