Can an employee contribute more than 12% of basic salary towards EPF:
Employees’ Provident Fund is a retirement investment plan that every salaried individual opts for. Employee usually contributes 12% of their basic pay and employer contributes 13.61% towards the Employee Provident Fund.
Benefits of having an EPF Account
The benefits of having an EPF account are as follows:
- Money will be accumulated till your retirement, resignation or death. You will also earn interest on the accumulated amount and you will also be eligible for the bonus.
- Partial withdrawal is allowed for meeting the expenses such as house construction higher education, marriage, illness, etc.
- It is the most tax-friendly tool that helps you build retirement corpus.
- If you withdraw the amount after working for 5 consecutive years, the amount will be totally exempt from tax under Section 80C of the Income Tax Act.
- The rate of interest for the financial year 2017-2018 has been declared at 8.65%.
- EPFO has decided to make all the payments to beneficiaries through the electronic modes.
- You can avail the Life Insurance cover, EDLI under EPF.
- To channelize the savings, SEBI and top stock exchanges have requested the new Central Government to allow a portion of the corpus in equities and mutual funds.
- SEBI has also suggested to invest the Rs.5.5 lakh crore managed by EPFO in equities and mutual fund.
- Bombay Stock Exchange has requested that the EPF money be assessed to both the primary and secondary markets.
- The SEBI and BSE investment will generate higher returns for the retired.
- EPF
- EPFO
- PF Withdrawal
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- EPF Contribution
- EPF Form 31
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- PF Withdrawal Rules
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- EPFO e Sewa
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- Provident Fund Rules
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- EDLI
- PF Passbook
- Employee Pension Scheme
- EPF Form 5
- Employee Provident Fund Scheme 1952
- EPF Form 11
- PF Limit
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- PF Statement
- Form 2
- EPF Name Correction
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- PF Withdrawal Forms
- SBI EPF Account
- EPF Account Withdrawal Fraud
- EPF Money after Resignation
- EPF Life Insurance
- 7 Ways to Check PF Account Balance
- EPFO into Equities
- Unclaimed EPF Account
- EPFO Stock Market Investment
- How to Change EPF Nomination Online
- Claiming PF from Inactive EPF Accounts
- EPF vs EPS
- EPF Claim after the Death of a Subscriber
- EPF vs NPS
- EPF vs PPF
- GPF Amount Withdrawals
- Claim 100% EPF at 60 Years
- Centre Cracks Down on EPF
- File an RTI for EPF Withdraw or Transfer
- PF Advance withdrawal
- How to withdraw PF online
- EPF - All about Employees Provident Fund
- Difference between GPF and PPF
- difference between epf and ppf
- difference between pf and ppf
- EPF Balance Check Online
- Tax free Withdrawal limit for PF
- PF Withdrawal Reasons
- PF Declaration Form for Annual Leave Encashment
- EPF Grievance Online
- PF Loan
- New EPF withdrawal Form
- UAN for PF Settlement
- EPF Withdraw without Employer Signature
- Check Employer EPF Contribution
- EPF Transfer after Job Change
- Merge Two UAN Accounts
- EPF KYC
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