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Difference Between NPS and EPF

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Difference Between NPS and EPF

National Pension System Employees' Provident Fund Voluntary retirement savings scheme Mandatory retirement savings scheme for the salaried For all individuals Only for the salaried class Contribution up to 10 per cent of basic + DA allowed Contribution towards EPF is tax exempt ( up to ₹ 1 lakh) deduction, inclusive in section 80C limit of ₹ 1 lakh under the Section 80C Withdrawals taxable at slab rate Withdrawals taxable if not completed five years in an organisation Invests up to 50 per cent of the corpus in equity market Does not invest in equities Should give better returns than EPF; returns not guaranteed Interest rates fixed every year, guaranteed Limited premature withdrawal allowed but taxable, Premature withdrawals allowed before maturity, without leads to account closure foreclosure Account can be closed only after the age of 60 No restrictions ; complete withdrawal allowed on certain grounds Cost levied on investment* No cost involved

*NPS charges fund management fee of 0.0102 per cent for government employees and 0.25 per cent for private sector Figures in brackets show number of subscribers *Works on ultra- low admin and transaction costs, to make such small investments viable There are some 16 crore EPF accounts of which around 4 crore are currently active, 4 crore of the inactive accounts are inoperative Source: PFRDA

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

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These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

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Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

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