I’m a salaried employee and my employer deducts Rs. 780 every month towards EPF. I had a few queries regarding this:
1. Does my employer give an equal contribution of Rs. 780 each month into my EPF account, or is the 780 split in half, 360 as my contribution and 360 as my employer’s? I ask this question because I dont see any additional deduction towards EPF in my gross salary amount.
2. Can i put in more than just Rs. 780 every month? And If I do so, are my employer’s bound to put an equal matching contribution? Will it not be a loss for them to simply put in more money out of their pockets, effectively I can increase my salary is it not?
3. How do I maximize my savings out of an EPF account. I mean to ask, what amount should I invest each month so as to draw an equal matching amount from my employer?
4. Is EPF better than PPF? I dont mind locking in a certain amount of money for 15 years. If I put 70k each year in PPF, would that be better than increasing my monthly EPF contribution?