The EPF Act requires every business that engages over 20 people, including contract employees, to register. Employer registration in some cases is mandated by law and voluntary in other cases. Contributions can only be made by registered employers and employees of registered employers. It's a type of savings account in which both the employer and the employee contribute the same amount regularly. It is also one of the most effective retirement funds in the market. One of the most beneficial employee benefit plans is the EPF Scheme.
