Can I have both VPF and NPS?
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Can I have both VPF and NPS?
Yes, You can opt for both NPS and PF from your employer. Also, you can continue self-contribution to NPS, even as your employer contributes. Your tax benefits are as follows: Your PF contribution is allowed as a deduction under Section 80C, wherein the maximum deduction amount is Rs 1.5 lakh.
Can a government employee open VPF account?
The VPF is available only to salaried employees in India.
Who can open a VPF account?
To open a VPF account, an employee has to approach his HR/Finance team and advise them to raise a request for an additional contribution in the VPF through a registration form. The existing EPF account will serve as the additional VPF account. Currently, the interest is accrued at 8.5\% per annum under this scheme.
Is VPF covered under 80C?
The Voluntary Provident Fund (VPF) is one of the tax-saving investments covered under Section 80C of the Income Tax Act, 1961. The sovereign guarantees back the EPF investments, and hence, they are absolutely safe. Furthermore, the EPF investments earn a guaranteed rate of returns at 8.5\% p.a.
How can I open a VPF account in HDFC Bank?
The process to open a PPF Account Online.
- Sign in to HDFC Bank NetBanking.
- Under Offers Tab, click on the banner for ‘Public Provident Fund.
- Confirm the details shown in the next screen and enter the amount you want to deposit.
- Choose if you wish to add a nominee and click submit.
Which is better VPF or PPF?
PPF stands for Public Provident Fund and VPF for Voluntary Provident Fund….Difference between PPF & VPF.
| Features | PPF | VPF |
|---|---|---|
| Employee Contribution on Basic + DA | N.A | Voluntary (Upto 100\%) |
| Employer Contribution | N.A | N.A |
| Taxation on Maturity Returns | None | Tax Free |
| Tax Deduction | As per section 80 C | As per section 80 C |