Is Your PF Money Safe?

Is Your PF Money Safe? Though many companies are defaulting on PF deposits, the problem is far from alarming.

- Dipak Mondal

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.