Does It Make Sense To Increase EPF Contributions?
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder and Chief Investment Advisor of SahajMoney, said investors can use EPF above the statutory limit for the long-term debt part of their retirement savings, in line with their risk-based asset allocation.
More of Abhishek's views on retirement
Outlook Money examines whether employees should contribute more than the mandatory 12% of basic salary and dearness allowance to EPF, following an EPFO process for such requests. It covers tax on interest for contributions above ₹2.5 lakh a year from 1 April 2022, the 8.15% rate at the time, which is revised yearly, and how lock-ins and existing asset allocation bear on the decision.
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Does It Make Sense To Increase EPF Contributions?