Updating the vpf and vpis student loan refinance after consolidating
The advances can be used for purchase or construction of a house, to meet medical costs in illnesses or for marriage and education purposes. Currently (FY-2015-16), EPF's interest rate stands at 8.8 per cent, marginally up from previous year's 8.75 per cent.
Take a look at the pre-tax yield that a person would have to earn to equal the post-tax yield of 8.8 per cent offered by EPF.
The employees can declare a fixed amount or a percentage of pay as the enhanced contribution.
Funds get locked-in for long An EPF account caters to one's retirement needs.
Under the existing rule, employees can withdraw the full PF balance if he is out of employment for 60 straight days.
Advances from PF PF rules allow advances to the employee under specified situations.
When 12 per cent of their basic pay, no more, no less, moves into the EPF account each month, most employees get a sense of satisfaction that their retirement savings are on track. For someone with a basic monthly salary of Rs 25,000, the corpus after 30 years of service (at 9 per cent) would be about Rs 87 lakh.