EPF News: Who deducts PF from your salary, government or company, does it benefit you or harm you? Understand..

If you do a private job, then this news is for you. Because this news is related to the PF deducted from your salary. A part of your salary is deducted in the form of PF. In such a situation, a question arises. After all, does the government deduct this money or the company? The second question is, after all, do you benefit or lose from this?

Keeping in mind the future of the employees working in the private sector, the Government of India brought the Employees' Provident Fund Organization (EPFO) into existence with the Employees' Provident Fund and Miscellaneous Provisions Act, 1952. Before this Act, the Employees' Provident Fund Ordinance was passed in 1951. This government body takes care of the PF and pension-related things of the employees working in the private company.

Who deducts PF?

According to the rules, if the number of employees is 20 or more, then the companies will have to register with the Employees' Provident Fund Organization (EPFO) and deduct PF contribution from the salary of their employees. That is, if you are working in a private company, then your PF will be deducted, and this PF is deducted by the company. The company deducts your PF and deposits it in your PF account.

It is the responsibility of the company to deduct the PF of its employees and deposit it in the PF account on time. The company also has a part in it.

Is it beneficial or harmful for you when PF is deducted?
This question arises in the minds of many people: Is there any benefit or loss from PF deduction? So the answer to this is that it is beneficial. Because the money deducted for PF is, in a way, saving your money. The government also gives interest on it. And in case of emergency, you can also withdraw money. Along with this, if PF is deducted continuously for 10 years, then you also become eligible to get pension.

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