Explainer: A brief note about provident fund
Updated : July 03, 2018 07:05 PM IST
It is a compulsory retirement savings scheme directly under government control.
Workers are allowed to make certain withdrawals prior to the defined age in certain circumstances such as medical crisis.
In India, the organization tasked with assisting various organizations to set up provident fund is the Employees' Provident Fund Organization (EPFO).