Day: June 22, 2018

Why should you invest in PPF despite being an EPFO member? Steps to open PPF account online

Why should you invest in PPF despite being an EPFO member? Steps to open PPF account online

Buzz
A part of employees’ salary is transferred to Employee Provident Fund ( EPF) as an initiative by the Government of India to create retirement corpus for the salaried class. However, if you are self-employed and want to create a snowball of money for your financial independence then, Public Provident Fund (PPF) can be an answer to money-anxiety. PPF is through a voluntary contribution and it has a lock-in period of 15 years. At present, interest rate in PPF is 7.6%, experts advocates investing in PPF as it builds a tax-free retirement corpus. An account holder can deposit a maximum of Rs 1.5 lacs in the PPF account. An amount in excess of Rs 1.5 lacs in a financial year won’t earn any interest. PF is applicable for salaried employees where a fixed amount is deducted from salary and taken