PF is the popular name for EPF or Employees’ Provident Fund. It is a government established savings scheme for employees of the organised sector. The EPF interest rate is declared every year by the EPFO (Employees Provident Fund Organisation) which is a statutory body under the Employees’ Provident Fund Act, 1956. It is currently 8.65%. Only employees of companies registered under the EPF Act, can invest in the EPF or PF. Both the employer and employee are required to contribute 12% of the employee’s basic salary and dearness allowance every month to the EPF account.