Employees Provident Fund or EPF is savings cum retirement scheme for the salaried individuals. Under this scheme, contribution is made both by the employer and the employee. The amount contributed in EPF scheme is 12% of the salary (basic + dearness allowance). The amount invested over the years, along with specified interest, is paid out to an employee on his/her retirement.
Understanding the difference between EPF vs PPF is essential because both of these scheme are the major tax saving schemes. While one is Employees’ Provident Fund, the other is Public …
EPF vs PPF – Which One Is Better For Saving Money? Read More »
EPF or Employee Provident Scheme is a tax saving scheme cum retirement benefit scheme, which can be availed by the employees of the organisation which are registered under the Employee Provident Fund Organisation (EPFO). Further, the organisations having more than 20 employees are required to obtain EPF Registration.
In the last year’s Union Budget of 2020, the Finance Minister Smt. Nirmala Sitharaman had capped the tax exemption on employers contribution to Provident Fund, National Pension Scheme and superannuation …