Hey guys, here get the details of epfo member portal, pf statement, check pf balance online, know your pf balance, check epf balance online, Process to check PF balance online
epfo member portal | pf statement | check pf balance online | e passbook
PPF account is most important and popular investment options in India on fixed incomes.Sponsored Links:
The main aim of Central government to introduce PPF is to make people contribute the funds as well as to avail of some tax exceptions under income tax provision. You can get the details process to check PF balance online, pf statement, e passbook.
This site will aware you on how to open PPF Account withdraw, calculation, Account Eligibility and so on….
The process to check PF balance online and What is Public Provident Fund (PPF):
PPF is introduced in 1968 by the National Saving Institute of Ministry of Finance. Public Provident Fund is a Saving-cum-tax saving instrument. You want to know the information about EPFO.
The main scheme of PPF is to provide investment for small savings with reasonable returns combined with income tax benefits. And get the details of check epf balance online, epfo member portal, pf statement.
- To open PPF account should be eligible for a resident of India.
- Every individual resident of India is eligible to open PPF account in India.
- PPF account can be open in different financial institutions like ICICI, SBI and Indian Post
- NRI’s are not eligible to open PPF account. Here get the details of check epf balance online
- YOU can open PPF Account in Online.
- Individuals who are deposit to PPF are Tax deductible in India.
Returns and investments:
- Generally, people are aware and confuse in investments and returns in PPF .This helps you out from all the confusion.
- The minimum investment should be 500 to open and maintain the PPF account.
- The maximum investment should not be exceeding more than RS.1.5 lack per annum. Just have a look on check epf balance online.
- The amount can be deposit in 12 installments or you can deposit in a lump sum per year.
- If your account exceeds to more than 1.5 lacks the amount will neither refund nor fund any investment under income Tax Act
- The interest rate for PPF account is 8.70% per annum which should be paid on 31 March every year.
- It will be calculated every month of 5th day and last day on the lowest balance. check epf balance online details.
- Calculation Process of PPF Account is very systematic as it provides great returns and tax benefits.
The process to check PF balance online – Withdrawals of PPF Account:
Generally, the PPF account has a locking period every 15 years and money can be withdrawn in whole after its prime time of period.
But you can withdraw from the end of seventh or sixth of the financial year onwards. Have a look at check epf balance online, epfo member portal, know your pf balance.
Withdraw of amount will stand to 50% of the amount at the end of the 4th year prior the year in which the amount is withdrawn.
You will get the full amount including interest and tax free if you are withdrawing the amount after completion 15 years.
The PPF account can be transferred from one bank to another bank or post office, Here is the process of transferring the amount.
- Firstly approach the bank and fill the form with all details for the transfer. know your pf balance, check epf balance online details.
- Then the existing bank will transfer detail copy like DD/Cheque for the outstanding amount and copy of the opening application, nomination form and specimen signature to the new bank Specified by the customer. Get the details of epfo member portal, pf statement, check pf balance online.
- After receiving the documents the New Bank will require you to fill and submit the form for a new account with old PPF passbook and with all KYC documents.
Benefits to under PPF Account
Here are some points which talk on benefits to have PPF account.
- IT is the most tax-effective investment.
- One who understands the significance of this product will be the land of being just one of the options to fulfill the criteria of 80c limit of 1 lack in the income tax act.
- Any individual can open only one account on their name or even they can have joint account
- AS NRI’s cannot open the account, if an individual becomes an NRI after opening the account they can continue the scheme on a non – repatriation basis, check epf balance online.
- YOU can extend the tenure after completion of 15 years.
- But in the extension period also the limit of investment should not be exceeded to 1.5 lacks.
- The rate of interest cannot be fixed for a long period, it keeps on changing every financial year.
- epfo member portal, If you’re not depositing any amount in PPF the account will be discontinued.
- The actual maturity period of the amount is 15years but it will run till 16 years. The deposit year will be considered as zero
Ideally, the depositing period should be started from 1st and 5th of the month to get interested on that month. So, that interest amount will be calculated on the minimum balances between the 5th day and end of the month. epfo member portal, pf statement, check pf balance online details.
The PPF investments fall into the category of E-E-E (Exempt-Exempt-Exempt) mode of Taxation.know your pf balance, check epf balance online details. Since it is a government scheme there is no risk to money you can track the status of the account from the money management solution, if you have online account it will be updated automatically. This is the full information about the Process to check PF balance online.
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