Parameter | PPF | EPF |
---|---|---|
Eligibility | Any Indian (except NRI). Includes students, self-employed, employee or retired persons | Only salaried employee of a company registered under EPF Act |
Investment Amount | Min Rs.500 and Max Rs.1,50,000 | 12 % of salary |
Tenure | 15 Years, extendable after that for a block of 5 years indefinitely | Can be closed (when quitting job permanently) |
Rate of Interest | 7.1% | 8.50% |
Contributor to Fund | Self or Parent in case of a minor | Both Employer and Employee |
Tax Benefit | Contribution is tax-deductible under Sec 80C. Maturity amount is also tax-free. | The contribution is tax-deductible. Maturity amount is tax-free only on completion of 5 years. |
Governing Act | Government Savings Banks Act, 1873 (earlier Public Provident Fund Act, 1968) | Employees Provident Fund And Miscellaneous Provisions Act, 1952. |
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