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Statutory Protection

The Employees Provident Fund Act, 1962 has made the following provisions to protect the rights of members on their PF deposits:

  • Co-partner or creditors of the member shall not have any claim on the amount deposited with EPF.
  • Government cannot realize its claim or arrears from the PF deposited in the KSK.
  • The members of EPF are entitled to receive a fixed rate of interest on their PF deposit until withdrawal or for a period of six years even after their retirement.
  • Government of Nepal has guaranteed at least three percent interests annually on member's account.

Institutional Protection

The following provisions are made in the Act for institutional protection of the EPF:

  • The EPF shall have preference right on the assets of institutional or individual borrower for realizing its arrears.
  • The EPF can take possession of the security given by the borrower to realize its arrears by sale or otherwise.
  • The EPF will not have obligation of government tax or other similar charges while taking possession of any property or while lending or realizing any loan.
  • The EPF is free to determine the rate of interest on its investment.

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