Provident Fund i.e. PF is very essential for an individual to secure their old age time as it is a mode to offer a financial helping hand to the employees of a respective company. Moreover, investing in the provident fund is also a tax-saving alternative for the people who work in several private, public, or government department sectors.
Registration of the Provident fund can be achieved voluntarily by starting an organization having less than 20 employees. However, the employee can withdraw the provident fund savings at the time of her or his retirement or at some specific time if they wish to have it to fulfill their needs.
Monthly File returns are essential for all the employees who have PF registration.