What is (PF) Provident Fund

PF stands for Provident Fund. It is a government-mandated retirement savings scheme that is applicable to all salaried employees in India. Under this scheme, both the employee and employer make a contribution to a retirement fund, which is managed by the Employees’ Provident Fund Organisation (EPFO). The amount accumulated in the PF account can be withdrawn by the employee at the time of retirement or in certain other situations such as leaving the job or for medical emergencies.