What is a primary function of EPF regulations in corporate governance?

The primary function of EPF regulations in corporate governance is to contribute to employee welfare transparency. EPF, which stands for Employees' Provident Fund, serves as a key element in ensuring that employee benefits and contributions are handled transparently and fairly. These regulations are designed to protect employees’ interests by mandating that employers provide certain levels of benefits, contributing to a more equitable workplace environment.

By establishing clear guidelines and requirements for handling employee funds, EPF regulations help to enhance trust between employees and employers, ensuring that employees are aware of their rights and the benefits they are entitled to receive. This transparency not only benefits the employees but also reflects positively on the organization by fostering a responsible corporate governance framework.

While other aspects like corporate profitability, limiting employer responsibilities, and reducing turnover rates may seem relevant, they are not the primary focus of EPF regulations, which are fundamentally about safeguarding employee welfare and ensuring that the benefits provided are transparent and accountable.