What Is The Difference Between EPF PPF And GPF: There are many types of provident fund schemes in the country. These include Employee Provident Fund (EPF), Public Provident Fund (PPF), General Provident Fund (GPF).
Crores of employed people in the country are associated with some kind of provident fund account. These schemes related to provident fund work to secure the life of a person after retirement at the financial level. However, employees have to invest regularly in these schemes. After retirement, these schemes ensure financial security of the employee’s life. Often many people are confused about the difference between EPF, PPF and GPF. If you do not know about the difference in them, then today we are going to tell you about this. Let’s know –
Employee Provident Fund – EPF
Employee Provident Fund Scheme is being operated for people working in the private sector. This scheme is being operated by the Employees Provident Fund Organization.
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In this, the employee working in the private sector has to invest 12 percent of his salary every month i.e. basic salary and dearness allowance. Apart from this, the employer also has to deposit the same amount in the account. After retirement, the money deposited in EPF helps to secure the future of the employee.
Public Provident Fund – PPF
Public Provident Fund is a very popular scheme in the country. Any Indian citizen can start investing by opening an account in the PPF scheme. The maturity period of the PPF scheme is 15 years. At present, you are getting an interest rate of 7.1 percent on investing in this scheme.
General Provident Fund – GPF
GPF i.e. General Provident Fund Scheme is being operated for central employees. The interest rate received under the General Provident Fund Scheme is ensured on a quarterly basis. In this, the account holder has to deposit at least 6 percent of his salary in the GPF account on a monthly basis.
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