Provident Fund or PF is a compulsory contributory fund for the future of employees. Provident Fund is required to provide wider benefits to the workers on the completion of their employment. It is a social security fund created for the purpose of providing financial security and stability during retirement. Every specified factory or establishment in which 20 or more persons are employed must register under the Employment Provident Fund. With the amendment in the rule of EPF, the limit of the minimum employee is 10 employees. Compliance Checklist under the EPF Act contains 12 items that the company must fulfill in order to be compliant with the law.