Provident Fund

Provident Fund

  • The Provident Fund (PF) feature enables organizations to manage employee and employer contributions in compliance with statutory regulations. PF is a government-mandated retirement savings scheme in which both the employer and employee contribute a fixed percentage of the employee’s PF wage each month.

  • Provident Fund rules are pre-defined according to government norms, including contribution rates, wage limits, and statutory components such as EDLI (Employees’ Deposit Linked Insurance) and Admin Charges. 

  • Employers can configure whether contributions are calculated as 12% of actual PF wage or based on the restricted wage limit of ₹15,000, and whether these amounts are included in the employee’s CTC.

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