PF or\u00a0Provident Fund<\/strong>\u00a0consists of contributions made by a group of people. It is a government led savings scheme that promotes retirement savings among the salaried population in India. In this scheme, a group of salaried employees invest a part of their salary into the account and the money is later paid back when the individual retires or when it attains maturity. The employers also invest an equal amount in the fund along with the employees, for the employees.<\/p>\n Different Types of Provident Fund:<\/strong><\/p>\n Listed below are the different types of Provident Funds available in India.<\/p>\n Who is eligible PF?<\/strong><\/p>\n Any individual who is a resident of India and is earning income or can make contributions consistently is eligible for a provident fund. The individual needs to be salaried to be able to contribute to EPF, UPF and SPF. PPF allows both self-employed and salaried individuals to make a contribution.<\/p>\n PPF or\u00a0Public Provident Fund<\/strong>\u00a0is a savings and tax saving fund in India. It is a type of provident fund account. The fund offers attractive returns along with tax saving benefits. A minimum of Rs.500 is required to open a PPF account and the maximum that can be deposited is Rs.1.5 lakh. A deposit more than Rs. 1.50 lakh p.a. will not earn any interest and will be not be eligible for rebate under\u00a0income tax.<\/p>\n Who is Eligible for PPF?<\/strong><\/p>\n Any resident of India who can make consistent contribution to the fund is eligible for Public Provident Fund. The individual need not be salaried and even self-employed individuals can contribute for the fund. They should be able to make a contribution of a minimum Rs.500 in order to maintain the fund.<\/p>\n\n
What is PPF?<\/h2>\n
Difference between PF and PPF?<\/h2>\n