INSUBCONTINENT EXCLUSIVE:
Companies employing more than 20 people have to compulsorily make contributions towards the EPF.Employees' Provident Fund (EPF) or PF
account, Public Provident Fund (PPF) account and General Provident Fund (GPF) account are three major provident fund accounts available in
In these provident fund accounts, a subscriber invests a part of his/her salary for a certain period of time and avail amount on maturity
benefits.EligibilityCompanies employing more than 20 people have to compulsorily make contributions towards the EPF
This means, both the employee and the employer make equal contributions towards the EPF kitty
On the other hand, General Provident Fund (GPF) is available only for government employees
While all resident Indians can open a PPF account.MaturityGPF account matures at the time of retirement
The Public Provident Fund account comes with a maturity period of 15 years.Interest ratesCurrently, all members of Employees' Provident Fund
Organisation (EPFO) get an interest rate of 8.65 per cent on their Employees' Provident Fund (EPF) deposit
While GPF is offering 7.9 per cent interest for the quarter ending September 2019
allowed for purchase/construction of house, repayment of loan, non-receipt of wage for two months, marriage of self/daughter/son/brother,
for medical treatment of family members etc
GPF also allows partial withdrawal at certain conditions
Partial withdrawal is allowed in PPF account every year from the seventh financial year from the year of opening accounGet Breaking news,
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