Objective of Employee Provident Fund
Employee Provident Fund (EPF) is to ensure employees in the private sector are financially secure after retirement, hence a scheme of compulsory contribution and saving was enforced by the Government.
Who Are The Employees Under Employee Provident Fund Act 1955
As defined in the EPF Act 1991, employee means a person employed under a contract of service or apprenticeship. If you have reached the age of 75, you will no longer considered as an employee under the EPF Act.