Is Your PF Money Safe? Though many companies are defaulting on PF deposits, the problem is far from alarming.
Is your provident fund contribution safely invested for you to withdraw when it is required the most – at retirement?
Well, recent reports and a look at the annual report of the Employees’ Provident Fund Organisation –the body that sets the rules for EPF – suggest that your provident fund money may not be as safe as you thought. Many employers – around 7,700 as on March 2015 – do not deposit the money deducted from their employees in the EPFO account. However, though it is alarming, there is no reason for pushing the panic button, just yet.
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