My offer letter states PF amount as part of retiral benefits in salary card. But why does the company deduct PF amount from my salary every month?
In India, the Provident Fund (PF) is a mandatory retirement savings scheme governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. This scheme ensures that employees have a secure financial future upon retirement. The PF scheme applies to establishments with 20 or more employees. Employees earning up to ₹15,000 per month are mandatorily …