The Employee Provident Fund protected the post-retirement financial interests of private sector employees since 1952 and continues to do so till date. It secures a considerable sum of money that an individual can withdraw at the end of his/her professional career. Since privately employed individuals have no pension scheme, their Employees Provident Fund scheme is often the only source of post-retirement capital. It is a substantial amount that accumulates over the entire course of their professional career along with interest.

However, the scheme underwent numerous changes and modifications since its inception. The rules and regulations of employment changed with time. There are also other variables at play which require the provisions of this scheme to be updated frequently. EPFO, after consultation with the respective departments and organisations, makes the changes to ensure that its subscribers get the best benefits when they retire.
The most recent changes in this scheme made in 2018 allow greater flexibility on withdrawal and also potentially deliver a higher ROI. An employee now has greater control over how his/her funds invested. An alert and active employee is much more likely to get greater benefits from this scheme due to this modification.
EPF works as long term saving option for you by Govt. It also help you to save taxes, after universal account number activation you can check your epf contribution and request to withdraw PF amount online.
Moreover, these recent changes are not the first alterations to this scheme and neither will they be the last. It is crucial that an employee takes the time out to know all about Employees’ Provident Fund and the changes that transpire occasionally. Along with this, individuals can also avail personal loans to cover financial emergencies which may arise, from reliable lending companies. It will go a long way to secure their future.