EPF vs VPF vs NPS
Basis |
EPF |
VPF |
NPS |
---|---|---|---|
Full form |
Employee Provident Fund |
Voluntary Provident Fund |
National Pension System |
Who is Eligible |
Salaried employees who are working in EPFO recognized organization |
Salaried employees who have an active EPF account and are working in EPFO recognised organisations |
All citizens and non resident citizens who are between the age group of 18 years to 60 years. |
Required Contribution by Employer |
12% of basic salary + dearness allowance |
No statutory obligation on employer |
Optional for Private employers. |
Required Contribution by Employee |
12% of basic salary + dearness allowance |
As per the discretion of employee, up to 100% of basic salary + dearness allowance |
10% of basic salary + dearness allowance |
Investment Tenure |
Till retirement or unemployment |
Not less than 5 years or retirement/ unemployment |
Till the age of 60. |
Partial Withdrawal |
Allowed only on certain conditions and subject to approval from EPFO. |
Allowed only on certain conditions and subject to approval from EPFO. |
Allowed for specific purpose only after three years of investment in the scheme |
Available Tax Benefits |
Categorized under EEE category i.e. Contribution, interest and maturity value are exempt up to certain limits and conditions |
Categorized under EEE category i.e. Contribution, interest and maturity value are exempt up to certain limits and conditions |
Categorized under EEE category. Tax deduction up to Rs.1.5 lakh under Section 80CCE and 80CCD(2) |
Loan Availability |
Allowed subject to approval from EPFO |
Allowed subject to approval from EPFO |
Not allowed |