Difference Between Employee Provident Fund and Public Provident Fund

PF is the popular name for EPF or Employees' Provident Fund. It is a government established savings scheme for employees of the organised sector. ... PPF or Public Provident Fund is a government-supported savings scheme. It is open to everyone – employed, self-employed, unemployed or even retired.

1. Which one is better EPF or PPF?
2. What is difference between EPF and EPS?
3. Which provident fund is best?
4. Can I convert EPF to PPF?
5. Who are eligible for PF?
6. Can we save money in EPF?
7. What is PF EPS salary?
8. How much pension will I get EPS?
9. How do I calculate my eps?
10. Is Provident Fund Safe?
11. Is PPF a Recognised provident fund?
12. What is the lock-in period for VPF?

Which one is better EPF or PPF?

The following difference are seen between EPF and PPF: The interest rate on investments in EPF is 8.5 % while it is 7.1 % for a PPF account. ... Returns earned from a PPF account are exempted from tax payment while investments done in EPF qualifies for tax deduction under Section 80C of the Indian Income Tax Act, 1961.

What is difference between EPF and EPS?

EPF stands for Employee Provident Fund while EPS stands for Employee Pension Scheme. Both EPF and EPS work in more or less the same way i.e. they help employees have a retirement corpus when they are no longer earning. ... Under EPF, both you and your employer contribute 12% of your basic salary towards your EPF account.

Which provident fund is best?

Which one is better?

Can I convert EPF to PPF?

you can't transfer your PF account to PPF account because both are different you can transfer you account to your old PF account to new PF account :) through www.epfindia.com/ While changing jobs and joining a new employer, an employee has an option to close the old PF account and open a fresh one.

Who are eligible for PF?

EPF eligibility criteria

If you are a salaried employee with a Basic + Dearness Allowance less than Rs. 15,000 per month, it is mandatory for you to be opened an EPF account by your employer.

Can we save money in EPF?

Self Contribution is open to all Malaysian citizens who have registered as EPF members. I am an expatriate/foreign worker with a Malaysian work permit, can I do Self Contribution? No, you can't. ... No, you must register as an EPF member before making Self Contribution.

What is PF EPS salary?

The monthly EPS contribution by the employer is calculated on the employee's actual salary if less than Rs 15,000 and on Rs 15,000 if salary exceeds this limit. Therefore, maximum EPS contribution is Rs 1,250 per month.

How much pension will I get EPS?

Kasturirangan says, "Under EPS, the minimum pension amount is Rs 1,000 per month and maximum amount of pension that you are eligible to receive Rs 7,500 per month on the basis that the pension contribution is not made on the amount beyond the statutory ceiling."

How do I calculate my eps?

One can check the EPS amount in their EPS account passbook as well. The last column of the passbook displays the monthly EPS contribution made by the employer. You can download the passbook from the EPF pensioners portal.

Is Provident Fund Safe?

Safe Investment Option. The scheme is managed by the Govt of India with fixed interest accrual. Hence, it is considered as a risk-free investment compared to the long-term investment ones offered by other private players.

Is PPF a Recognised provident fund?

The following payments received by an assessee will be fully exempt from tax: Statutory Provident Fund (SPF) Public Provident Fund (PPF)

What is the lock-in period for VPF?

Lock-in period

As per Voluntary Provident Fund withdrawal rules, contribution to a VPF account is subject to a maturity period of 5 years. Therefore, an individual cannot withdraw any sum from their Voluntary Provident Fund before the completion of 5 years sans repercussions.