Navigating the maze of personal finance
What is VPF? VPF, or Voluntary Provident Fund, is the voluntary retirement fund to which employees can voluntarily contribute additional funds towards their provident fund account. VPF contributions are in addition to the 12% of an employee’s salary already contributed towards their EPF or Employees’ Provident Fund. The maximum amount an employee can contribute to … Read more
I have already talked about the growing importance of your Aadhaar number in the financial space. Recently the Labour ministry made Adhaar mandatory for all Employee’s Provident Fund Organization (EPFO) account holders. According to this order if you have an EPFO account, you will have to share your Aadhaar details with EPFO. In case you … Read more
In my blog titled “What you need to know about the Employee Provident Fund – EPF“ I have shared the basics of EPF. So how is the interest calculated on your Employees’ Provident Fund account? Every year, the EPF interest rate is decided by the central government in consultation with The Central Board of Trustees … Read more
You contribute 12% of your basic pay to EPF every month. Over the years this contribution can grow to be quite substantial. Here are four easy ways to keep a track of your EPF balance. You need to know your UAN (Universal Account Number) in order to access details of your EPF balance. UAN is … Read more
When I started working my employer asked me to fill this form and started deducting a part of my salary towards EPF. Little did I know the long term financial implications of such a deduction. So I decided to prod a little deeper. What is EPF? It is a social security scheme run by Employees … Read more