EPF stands for Employee Provident Fund that is a scheme for providing a monetary benefit to all salaried individuals after their retirement. The process is monitored by the Employee Provident Fund Organisation of India. Any organisation that has more than 20 employees must register with the EPFO.In this process, an amount is deducted from Employee monthly salary and an Employer also contributes as per the provisions of the act and  is put into the EPF account. The amount collected in the EPF account is provided to the employees at the time of retirement which is beneficial for all employees for developing a corpus fund.