Are you employed?
Are you looking for the best investment option for your retirement?
If yes, then VPF could be a great option for you!
VPF (Voluntary Provident Fund) is an extension of EPF (Employees’ Provident Fund), which allows you to deposit more of your basic salary and DA and get better returns.
Benefits of VPF:
High interest rate: In VPF you get interest at the rate of 8.15%, which is much higher than PPF (Public Provident Fund).
Higher investment: You can deposit 100% of your basic salary and full DA in VPF, whereas in EPF you can deposit only 12% of basic salary and DA.
Lower lock-in period: The lock-in period in VPF is only 5 years, whereas in EPF it is 10 years.
Tax Benefits: You get tax benefits under Section 80C of the Income Tax Act 1961 on investments made in VPF.
Partial Withdrawal: You can make partial withdrawal from VPF after 5 years, which is not possible in EPF.
How to invest in VPF:
If you already have an EPF account, you can apply for VPF from your employer.
You have to fill a VPF form and deposit the amount of your choice.
Your deposited amount will be directly credited to your EPF account.
VPF is a great investment option that can help you get better returns for your retirement.
If you are employed and want to save for your retirement, then investing in VPF will definitely be beneficial for you.
