Employers typically provide employees with a Provident Fund (PF), a savings scheme that serves as a form of retirement savings and financial security.
According to the PF rules (as of 2004), all employees who draw a PF Basic of less than Rs 15000 have to contribute to PF. This is mandatory. For employees having PF Basic more than Rs 15000, the deduction/contribution will be on 15000. However in most companies, PF is applicable to all employees. There are exceptions (people who do not contribute) but these are few.
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