The EPF program is a fund, providing money upon retirement,
resignation or death, based on the accumulated contributions plus
In this scheme both the employer and the employee contribute 12% of annual income towards the fund. Of this 24% contribution, 8.33% is given towards a family pension plan. The remaining portion (15.67%) grows at a rate of 9.5% per annum. This return is guaranteed. Also, investments up to a maximum of Rs 70,000 per annum are not taxed!
Withdrawals from EPF is allowed under certain special circumstances like buying a house, children's wedding, etc. If you quit your job and provide a declaration that you do not intend to work for the next six months you can withdraw your EPF.
This is generally done though your company if you are an employee. You need to find out from your company!
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