EPF rate of interest is nothing but the rate paid inside the amount invested through the employee and employer. This is a one sort of pension scheme launched for that employee of India. PF is in fact called and EPF (employee provident fund) in India. This is one kind of contribution of employer and employer to motivate the savings of amount. Employee cut some level of income to PF account to the betterment of retirement days. Employee gets 12% rate on the invested amount when she or he gets retired. In some cases people also can EPF online payment if you do period of time. But the reason must be valid and person needs to submit hidden document to say the PF amount. Many companies have medical and life insurance coverage premium additionally.
Contribution of EPF Interest Rate
12% of EPF monthly interest is divided into two parts.
1st part is divided in 3.67% contributed into provident fund
2nd component of 8.33% is divided into employee pension scheme.
What include the benefits of EPF interest Rate
Employee earn 15,000 monthly is liable to chop the PF. PF scheme is nice in many reasons.
1. PF amount is belonging to the 80 C section thereby user can gain the tax advantages of this scheme.
2. There are multitudes of retirement benefits open to pass the strain free life of retirement.
3. There is certainly one good benefit of PF withdrawal facility. If anyone needs profit urgent you can withdraw PF amount after 5 years of PF savings
4. No matter should you gets transferred in other city the PF account will stay the same.,
5. If you alter the job it’s possible to transfer PF account to an alternative company.
Person must paid PF amount continuously for 9.6 years. 58 years age could be the retirement age for all your employees and employee can get the great things about NPS scheme following this age. This is really this type of nice investment scheme for your person to shell out the healthy and tension free retirement life.