Can an employee open a PPF account along with an EPF account? Know the rules here

New Delhi: The company plans for the retirement of its employees right from the beginning of employment. Apart from this, we also invest in various investment schemes to continue earning income after retirement. Whenever it comes to retirement planning, many people recommend investing in Provident Fund (PF) or EPF. Guaranteed returns are available in both these schemes. By investing in both these schemes, we can create a big fund for retirement. Everyone wants to save as much money as possible, in such a situation the question arises whether employees can invest in both EPF or PPF?

Investment can be made in both EPF and PPF

An employee can invest in both PPF and EPF. Investment can be made in both these schemes together. Actually, along with the employee, the employer also contributes to EPF. Also, PPF is a kind of voluntary scheme. You can invest in it as per your convenience.+

epf scheme

EPF is a retirement scheme. In this scheme the employee contributes a part of his salary. The company also contributes as much as the employee contributes. The contribution amount is determined as per the salary structure. Under this scheme, any employee can make partial withdrawals even while working. However, full withdrawal takes place only after retirement.

ppf

PPF is also a kind of retirement scheme. This helps in building a larger corpus for retirement and also helps in reducing taxes. The lock-in period in PPF is 15 years. However, some percentage of this fund can be withdrawn after a period of time. This is a long term investment plan.

How to Open PPF Account (How to Open PPF Account)

Select the Internet Banking or Mobile Banking option in the bank where you have an account.

After this you have to go to ‘Open a PPF Account’ and click on ‘Self Account’.

Now you have to fill the form visible on the screen and deposit the minimum amount for 1 year.

After this the form will have to be submitted. Now enter the OTP received on your mobile number.

In this way you can easily open your PPF account sitting at home.