What Is PF?

A federally implemented scheme in the private & government sector to contribute a little part of employee salary to get for the retirement period.

PF Interest Rate 2023

The current PF interest rate is 8.15% which is a 0.61% hike from the previous year FY 2021-2023 which was 8.1%.

How To Calculate Provident Fund?

Provident Fund is calculated with 12% of basic pay+ DA along with employer contribution which is 8.33% in EPS & 3.67 in EPF.

PF Eligibility

An organization with a minimum of 20 employees becomes eligible for PF deductions benefits for their employees

PF Deduction Benefits

Easy to get loans, emergency withdrawals, fixed savings, pensions, and insurance support for an employee.

PF In Payroll Structure In HRMS

An organization can implement PF calculation on employee payroll in one common HRMS System. Kindly visit hihellohr to know more about payroll.