What is PF (Provident Fund)?
(PF) Provident Fund is managed by the government. It is a retirement saving scheme used in India and other developing countries. These funds also have some similar characteristics to pension funds that are provided by the employers to the employees.
In Provident Fund, a worker has to provide a portion of his/her salary. Afterward, an employer on the behalf of his/her employees makes a contribution, and then the money in this fund is kept, managed, and handled by the government and hence, after a period the money from this fund can be withdrawn by the retirees. In some countries, Provident Fund is even paid out to the person who is disabled and not in the condition of work.