EPF is a highly secure tax-saving instrument that provides returns at 8.5% per annum, highest among all similar government-backed schemes
VPF is an extension of one’s EPF account. Anyone can make additional voluntary contribution to his/her EPF account which is referred to as VPF
It offers an interest rate of 8.5%, 140 basis points higher than PPF
Retirement planning is crucial for everyone in a country like India which has a very weak social security net
With extremely weak social security net to take care of old age income security PF accumulation is crucial for financial security during retirement years.
In an interaction with Money9, Sudhir Kaushik, co-founder and CEO, TaxSpanner, explained the reasons behind the move.