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Dear Kiran
Public Provident Fund Account can be opened by any adult in his/her names or as guardian of a minor. Such account can be opened in any Head Post-Office, G.P.O., any Selection Grade Post Office, any branch of the State Bank of India and selected branches of other Nationalized Banks.
Minimum Rs.500/- maximum Rs. 70,000 /- in a financial year Deposits can be made in lump sum or in12 monthly installments.
Deposits are payable on maturity after 15 years along with interest at the rates declared by the Government from time to time. The rate declared w.e.f.1-3-2003 is 8% per annum compounded annually.
VPF is a fairly simple investment idea to understand. Apart from contributing the normal 12% of your basic pay, you may choose to put in an extra, say 10% of your salary into the same account. What’s more, you are getting a promised, risk-free annual return of 9.5% for the extra money that you put in. No other risk free investment vehicle gives you this kind of a return. But remember, your employer’s contribution will be limited to the mandatory amount; he will not match your voluntary contribution.
Hope this answers your query .
Kirti
From India, Bangalore
Public Provident Fund Account can be opened by any adult in his/her names or as guardian of a minor. Such account can be opened in any Head Post-Office, G.P.O., any Selection Grade Post Office, any branch of the State Bank of India and selected branches of other Nationalized Banks.
Minimum Rs.500/- maximum Rs. 70,000 /- in a financial year Deposits can be made in lump sum or in12 monthly installments.
Deposits are payable on maturity after 15 years along with interest at the rates declared by the Government from time to time. The rate declared w.e.f.1-3-2003 is 8% per annum compounded annually.
VPF is a fairly simple investment idea to understand. Apart from contributing the normal 12% of your basic pay, you may choose to put in an extra, say 10% of your salary into the same account. What’s more, you are getting a promised, risk-free annual return of 9.5% for the extra money that you put in. No other risk free investment vehicle gives you this kind of a return. But remember, your employer’s contribution will be limited to the mandatory amount; he will not match your voluntary contribution.
Hope this answers your query .
Kirti
From India, Bangalore
I have never regretted joining this forum, am happy to meet level headed team mates. good job guys, good jod. Stephen
From Ghana, Accra
From Ghana, Accra
Hello Kirti & Sharad
In the event of EDLI scheme, are the employer's contribution will be 1% on the top of 12% mandatory contribution?
Is the 12% cover for pension,PF and EDLI as well as the administration chargers thereof?
Someone made a statment that the employer contribution is 13.5% taking into cosideration of EDLI
Can i have a clarification please?
Thanks
RB
From India, Bangalore
In the event of EDLI scheme, are the employer's contribution will be 1% on the top of 12% mandatory contribution?
Is the 12% cover for pension,PF and EDLI as well as the administration chargers thereof?
Someone made a statment that the employer contribution is 13.5% taking into cosideration of EDLI
Can i have a clarification please?
Thanks
RB
From India, Bangalore
Dear All,
I am MArina. I have newly joined this forum. I would like to know some details on VPF:
Example: Our company provides pf on 6500. If an employee wants to opt for more what will be the amount on which the company's contribution be and what will be the company's rate of contribution ?
My email id is
Regards
Marina
I am MArina. I have newly joined this forum. I would like to know some details on VPF:
Example: Our company provides pf on 6500. If an employee wants to opt for more what will be the amount on which the company's contribution be and what will be the company's rate of contribution ?
My email id is
Regards
Marina
Hello Sir!I could not open ur file can you please sent it on 
can you answer my queries :1. Is it mandatory to deduct PF of employees on probation2. Whether employers's contirbution should also start with deduction from probationer employees salary or we can just deduct and deposit there amount with PF authorities till they are confirmed3. Are we violating any law if we deduct PF only of confirmed employees4. Are there 2 schemes of PF caus Some members on forum say employer' contribution has to be equal to employee amounting to 12% of basic + DA While others have the view that Employer should contribute - 13.61% Pension Fund 8.33% EPF 3.67% EDLI 0.5% EPF A/c Admin Chg 1.1% DLI Admin Chg 0.01% 5. Is it compulsory to have pension scheme or can we opt for the regular 12% scheme 6. In case an employee leaves within one month of joining / say after one salary is there any prohibition on his PF withdrawal - some period say like 5 years etc. This i m askg wrt attriton / turnover.I have to take a call on PF issue so if you can give me this information it will be immense help. Please forward it to me on 
ksRegardsPari
From India, Mumbai
From India, Mumbai
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