What is EE Balance in PF?

The

EE in PF

stands for Employee's Share in the EPF Account. The EPF is a savings scheme designed to help employees accumulate a retirement corpus. Both the employer and the employee contribute a certain percentage of the employee's salary to the EPF account.

Here's a breakdown of the terms:

The

EE balance in EPF

represents the portion of the EPF account that comprises the employee's contributions. Every month, a percentage of the employee's basic salary and dearness allowance is deducted and contributed towards the EPF. This amount is referred to as the employee's share.

In addition to the employee's contribution, the employer also contributes a certain percentage of the employee's salary to the EPF account. This contribution is known as the employer's share.

The total EPF balance is the sum of the EE Balance (employee's share) and the ER Balance (employer's share). This total represents the accumulated savings in the EPF account.

Employees can check their EPF balance, including the EE Balance, through the Employees' Provident Fund Organization (EPFO) portal or by using the mobile app. The EPF statement provides a detailed view of the contributions made by both the employee and the employer, along with interest accrued.

It's important for employees to regularly check their EPF statements to keep track of their retirement savings. If there are any discrepancies or issues, employees can reach out to their employers or the EPFO for resolution.

This is the explanation of EE in PF.

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PF denotes Provident Fund, a government scheme that helps one to save money for their future, especially after their retirement. As a freelancer I never used to get PF but last year when I joined a company, I was told that they will deduct Rs 2,400 from my salary for PF and the same amount will be contributed by the employer as well. I was given all details about the EE and ER and that is when I learnt about what is EE balance in PF account and also about the ER balance. I will be glad to simplify the meaning of both the terms here.

In PF both the employees and employer’s contributions get deposited. EE stands for Employee Contribution in EPF (Employee Provident Fund) and ER stands for Employer Contribution in EPF. 

So EE refers to the amount that the Employee contributes and ER refers to the amount that the employer contributes.

EPF contributions are fixed. You cannot contribute Rs 2000 this month and Rs 5000 next month. EPF money is about 10%-12% of the basic salary of the employee towards EPF. For women, it's 8% from her and 12% from the employer’s.

You will get 100% of this amount after two months of retirement.

I hope the concept of what is EE balance in PF account is clear to you now.