Being a son of EPF employee, I will tell you the truth about EPF!
Because of of interest rates about 9% EPF funds are shrinking as they are allowed only to invest in Government bonds which give them only 5% interest!
Also due to schemes introduced by our former Finance minister(Manmohan Singh in 1995 -IT is termed as Manmohan's Biggest blunder) ,EPF is in danger of defrauding as employees who retire once have a monthly pension of Rs 500/irrespective of the amount contributed them!
if they contribute 12000 during theor lifetime they would get a minimum pension of Rs500 throughout the lifetime!
The above facts are true as they were furnished my father to me as he is EPF employee working at Madurai!
