A Provident Fund (PF) is a retirement savings scheme where employers and employees contribute a portion of the salary that can be withdrawn upon retirement or under specific circumstances.
The proposed changes to the Provident Fund outlined in the budget for FY 2024-25 do not require immediate adjustments to the payroll systems.
As admins, you can wait until the Employees' Provident Fund Organization (EPFO) provides additional guidance or updates to make any changes.
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