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The Employee Provident Fund or PF is a perquisite given to the employees over and above their basic salary, which can help them after their retirement, or at the time of any mishappening or emergency.
PF is directly related to the employee's pension. Apart from the employee's contribution of 12% towards EPF, an equal amount is contributed by the employer. Out of this, 8.33% goes towards the Employee Pension Scheme (EPS).