EPF is under the guidance of Employees’ Provident Fund Organization. (EPFO) came into existence on 15 November, 1951 and it’s the biggest social security organizations in the world. This was replaced by Employees’ provident fund’s act 1952.which is now known as Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. This is spread all over India. The Acts and Schemes framed under the Act are administered by a tri-part board consisting of the Central Board of Trustees, Employees Provident Fund, representatives of the Government (both Central and State), employers and employees.
One can consider EPF as a retirement benefit plan provided by their organizations. PF Registration is compulsory for the firms employing more than 20 employees.