In this video we explained the details of Employee Provident Fund
EPF comprises three different parts:
1. EPF (Employee Provident Fund)
2. EPS (Employee Pension Scheme)
3. EDLI (Employee Deposit Linked Insurance)
It is mandatory for all organizations with more than 20 employees and employees drawing Basic + DA less than Rs 15000
How it works?
The employee contributes 12% and employer contributes 12% of Basic+DA. Depending on your income, there are multiple scenarios
Taxation?
It comes under EEE category
What is special about EPF?
Employer contribution is tax free with a limit of 7.5 L combined across NPS, Superannuation fund and EPF
Withdrawal
- At Maturity/retirement
- 2 months of unemployment
Partial withdrawal - www.epfindia.g...
Section 80 C full details
A) Guaranteed Return - Low Risk Investments
1. Employee Provident Fund (EPF) - • Employee Provident Fun...
2. Public Provident Fund (PPF) - • Public Provident Fund ...
3. Sukanya Samriddhi Yojana - • Sukanya Samriddhi Yoja...
4. National Savings Certificate
5. Senior Citizen's Savings Scheme
6. Tax saving Deposits
B) Market linked - Moderate Risk Investments
7. National Pension System (NPS) - • NPS is Tamil | Nationa...
8. Equity Linked Savings Scheme (ELSS) - • ELSS - Equity Linked S...
9. Infrastructure Investments
C) Insurance linked Products
10. Term Life Insurance
11. Life Insurance Endowment Plans - • What is ULIP and Guara...
12. Unit Linked Insurance Schemes (ULIP) - • What is ULIP and Guara...
D) Others
13. Housing Loan Principal Repayment
14. Children's Tuition Fee
Complete details on 80C: • Section-80Cஇல் 14 வழிக...
EPF in Tamil: • Employee Provident Fun...
PPF in Tamil: • Public Provident Fund ...
NPS in Tamil: • NPS is Tamil | Nationa...
ULIP/LIC & money back plans: • What is ULIP and Guara...
ELSS: • ELSS - Equity Linked S...
Sukanya Samriddhi Yogana: • Sukanya Samriddhi Yoja...
Comparison of 80C: • Section 80C Comparis...
Watch our income tax series - Calculation, old vs new tax regime, HRA, Income tax savings, Section 80C and more: • HOW TO CALCULATE INCOM...
Watch Sharemarket for beginners series: • Basics of Share Market...
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