A provident fund is a mandatory retirement saving scheme introduced and managed by Government of India for benefiting the employees on retirement. An employee gives a portion of his/her salary to provident fund and the employer should make a contribution from their side. The money in the fund is kept and handled by Government and a retiree or their surviving family (nominee in case of diseased employee) withdraws the fund. In certain cases, provident fund pays out to the disabled employee, who is not in a condition to work further. Provident Fund (PF) registration is mandatory for all companies that have more than 20 employees.