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What is difference between Provident fund and Public provident fund?
Wiki User
∙ 14y ago
Public Provident Fund is a scheme in which any Indian with a PAN card can invest and save money. Provident Fund is a scheme in which a person can join only through his employer.
A portion of his salary would be deposited with the regional PF office on his name whereas in PPF you visit any nationalized bank like SBI and deposit money into your account.
Wiki User
∙ 14y ago
Wiki User
∙ 12y agoPPF is similar to PF with the only difference being, anyone can open a PPF account by visiting the nearest State Bank of India branch. PPF is also managed by the government of India. Once we open a PPF account we can deposit cash in our PPF account anytime. There is one restriction here. We must deposit at least Rs. 500/- every year to keep our PPF account active. The maximum amount we can remit in our PPF account every year is Rs. 70,000/- Our PPF account remains active for 15 years and if we want we can extend it by a further 5 years. We cannot encash the entire amount in our account before the tenure of 15 years. Of course we can do partial withdrawals from our account but we cannot take out the entire corpus.
Safety = Very high because backed by the government
Returns on Investment = Average - Our Inflation is 11% and the returns on PPF is only 8%
Investment Strong points:
a. Extremely Safe
b. A decent amount deposited every year can help us make up a good corpus over the long run.
Downside:
a. Only average returns.
b. Very long lock in period. We cannot take out our cash before 15 years
c. We need to deposit at least Rs. 500/- every year to keep the account active.
Wiki User
∙ 11y agoThere is no such thing as an Employers provident Fund. There is only Employees provident fund and it is provided to help employees accumulate a retirement corpus
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Which one is better between voluntary provident fund and public provident fund?
VPF
What is rate of interest of ppf?
Public Provident fundThe Public Provident Fund Scheme is a statutory scheme of the CentralGovernment of India.The Scheme is for 15 years.The rate of interest is 8% compounded annually.The minimum deposit is 500/- and maximum is Rs. 70,000/- in a financial year.To know more you can checkhttp://tips4bsense.blogspot.com/2010/01/public-provident-fund-public-provident.html
How many nominees can be made in a public provident fund account?
As many as you want.
How much can you invest yearly in public provident fund?
From min. 500/- to max. 100000 /-
Is the Principal and the interest amount withdrawn after the closure of Public Provident Fund Account on maturity is taxable?
If you withdraw before completing 5 years of service - Yes, it is taxable. If you have completed 5 full years, no it is not taxable
Is it mandatory to have a saving account in State Bank of India before opening a Public Provident Fund account in State bank of India?
No. u don't need to open savings a/c for opening ppf a/c in sbi.
What is minimum deposit in a public provident fund is how many rupees per year?
There is no such minimum number. It should be 12% of your basic salary thats all. If your basic is 1000 rupees then even Rs. 120 can be contributed every year
What does ppf stand for?
Public Provident Fund or PPF is a scheme that was introduced by the Government of India in the year 1980. Ever since that year, PPF has been a preferred choice for investment for the risk averse investor. Assured and Tax Free Returns make PPF even more attractive. The PPF is just like the regular Provident Fund Account that salaried employees get throughout India. The only difference being, the PPF account can be opened by anyone and contributions can be made as per their preferences. The money saved in the PPF Account is backed by the Government of India and hence it is practically Risk Free. The money in the PPF Account earns interest just like the PF account which will be credited into our account by the Government.
What's the difference between civil service and public corporation?
Difference between Public Corporation and Civil Service
What is the ppf in investment?
Public Provident Fund or PPF is a scheme that was introduced by the Government of India in the year 1980. Ever since that year, PPF has been a preferred choice for investment for the risk averse investor. Assured and Tax Free Returns make PPF even more attractive. The PPF is just like the regular Provident Fund Account that salaried employees get throughout India. The only difference being, the PPF account can be opened by anyone and contributions can be made as per their preferences. The money saved in the PPF Account is backed by the Government of India and hence it is practically Risk Free. The money in the PPF Account earns interest just like the PF account which will be credited into our account by the Government.
What is PPF?
Public Provident Fund or PPF is a scheme that was introduced by the Government of India in the year 1980. Ever since that year, PPF has been a preferred choice for investment for the risk averse investor. Assured and Tax Free Returns make PPF even more attractive. The PPF is just like the regular Provident Fund Account that salaried employees get throughout India. The only difference being, the PPF account can be opened by anyone and contributions can be made as per their preferences. The money saved in the PPF Account is backed by the Government of India and hence it is practically Risk Free. The money in the PPF Account earns interest just like the PF account which will be credited into our account by the Government.
What is the difference between a state college and a public college?
There is no difference.
