EPF vs PPF vs VPF

EPF vs PPF vs VPF #finance #casestudy #viral #shorts #epfo #epf #ppf #vpf


EPF (Employee Provident Fund)

It is a provident fund created with a purpose to provide financial security and stability in future. Under this plan employees a save fraction of their salaries every month so that they can use it later at the time of retirement. It is mandatory for salaried people working in organizations registered under the Employees' Provident fund Organization (EPFO) to contribute either 12% of their Basic + Dearness Allowance or Rs.780 towards EPF. There is more, the employee alone doesn't contribute 12% of their salary, the employer as well contributes the same amount. Participation in EPF is mandatory for Employers who have more than 20 workers and for workers whose basic salary is more than Rs. 6,291. Also, the saved amount earns interest and is also eligible for tax deduction. The most attractive feature about EPF is that it is risk free and could be chosen as an investment tool to be used after retirement.

VPF (Voluntary Provident Fund)

As the name suggests, the employee availing VPF scheme can voluntarily contribute any percentage of his salary to the Provident fund account. Although, the contribution must be more than the PF ceiling of 12% that has been mandated by the government. The employer however is not obligated to contribute any amount towards VPF. An employee can contribute 100% of his basic salary and DA. Interest offered would be the same as EPF and this amount would be credited to EPF Scheme account only as there is no separate account for VPF.

PPF (Personal Provident Fund) Personal Provident Fund

It is a A government-guaranteed fixed income security scheme with the special objective of providing old age financial security to the unorganized sector/self employed (non-salaried employees). Everyone can contribute to PPF account and get risk free and assured returns. The interest earned on the PPF subscription is compounded.



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