Provident Funds
A provident fund is an investment fund that is voluntarily established by Employer and employees to serve as long term savings to support an employee's retirement. Sources of fund: Employee's contribution: The amount deducted from the employee's salary at a rate of 2% – 15%.
Benefits
An EPF fund acts as an emergency corpus when an individual requires emergency funds. Tax-saving – Under Section 80C of the Indian Income Tax Act, an employee's contribution towards their PF account is deemed eligible for tax exemption. Moreover, earnings generated through EPF schemes are exempted from taxes
A provident fund is an investment fund that is set up typically to save for long-term goals such as retirement. In India, we have different types of provident fund plans for individuals from various categories of employment, such as self-employed, private sector employees, and government employees
Benefits
An EPF fund acts as an emergency corpus when an individual requires emergency funds. Tax-saving – Under Section 80C of the Indian Income Tax Act, an employee's contribution towards their PF account is deemed eligible for tax exemption. Moreover, earnings generated through EPF schemes are exempted from taxes
A provident fund is an investment fund that is set up typically to save for long-term goals such as retirement. In India, we have different types of provident fund plans for individuals from various categories of employment, such as self-employed, private sector employees, and government employees
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