The Employees’ Provident Fund was established under the Miscellaneous Provisions Act, 1952 (“Act”), which is applicable throughout India. The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, governs the Employees’ Provident Fund Scheme (EPFS). It is a long-term retirement savings plan that is managed by the EPFO. Read: What is a Systematic Investment Plan (SIP)?