| Feature | Detail |
|---|---|
| Tax deduction | 80CCD(1): up to 10% of salary. 80CCD(1B): extra ₹50,000. 80CCD(2): employer up to 14% (new regime too) |
| Lock-in | Till age 60. Partial withdrawal (25% of own contribution) allowed after 3 years for specific reasons (education, medical, home purchase) |
| Maturity rules | Withdraw up to 60% tax-free. Remaining 40% must buy annuity (pension). Annuity income is taxable. |
| Active vs Auto choice | Active: you decide equity/debt split (max 75% equity). Auto: reduces equity as you age automatically. |
| Fund managers | SBI, HDFC, ICICI, UTI, Kotak, Aditya Birla, Axis, Max Life — choose when opening account |
| Tier I vs Tier II | Tier I: locked, tax benefit. Tier II: flexible withdrawal, NO tax benefit. Only Tier I qualifies for deductions. |
| Rule | Detail |
|---|---|
| Partial withdrawal | Allowed from year 7. Max: lower of 50% of balance at end of 4th year or end of preceding year. |
| Loan against PPF | Available from year 3 to year 6. Up to 25% of balance. Interest: 1% above PPF rate. |
| Extension after 15 years | Can extend in 5-year blocks indefinitely. With contributions (keeps tax benefit) or without. |
| Tax treatment | EEE — Exempt on investment (80C), Exempt on interest, Exempt on maturity. Completely tax-free. |
| Who can open | Any resident Indian individual. One account per person. Minor accounts under parent. |
| Where to open | SBI, Bank of Baroda, HDFC Bank, Post Office, Axis Bank (IPPB) — online or offline |
| Feature | Detail |
|---|---|
| Employee contribution | 12% of basic salary (mandatory for EPFO-registered companies) |
| Employer contribution | 12% of basic — but 8.33% goes to EPS (pension), only 3.67% to EPF |
| Interest rate FY24-25 | 8.25% (announced by EPFO, approved by government annually) |
| Tax on withdrawal | Tax-FREE if employed for 5+ consecutive years. Taxable if withdrawn before 5 years. |
| UAN (Universal Account Number) | Single UAN follows you across employers. Check balance on EPFO portal / UMANG app. |
| Partial withdrawal allowed for | Medical emergency, marriage, home purchase, education, unemployment (75% after 1 month) |
| EPS pension | Pension on retirement from age 58. Minimum 10 years service for EPS pension. Max ₹7,500/month. |