Kolkata: The Employee’s Provident Fund (EPF) is the earliest social security scheme for the employees of India. It was legislated in 1952 in a young independent nation and has continued to serve generations of employees, providing them significant financial security during their post-retirement years through a lump sum payment and monthly pension (the latter was introduced in 1995). According to the rules, 12% of the basic salary is deducted from the salary of an employee.

While the full employee’s contribution goes the EPF kitty, 3.67% of the employee’s contribution goes to the same corpus while (12-3.67=) 8.33% goes into the pension account which is called Employees Pension Scheme. Now it is natural for an employee to know what is the........

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