comparison between EPF, PPF vs GPF

In order to meet the requirements of post-retirement, one needs to start planning decades before. The safest way to create funds for retirement is provident fund. Though there are 3 kinds of PF Employee's Provident Fund, Public Provident Fund, and General Provident Fund each one being very different from the other although not many people understand their difference.
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The basic difference between the three are:
1. In EPF investment is made by both employee and employer. In PPF investment is open and can be opened by any individual and in GPF it is only for government employee and only the employee makes a contribution.
2. 12% of basic salary and D.A contributed by employee and employer in EPF. In PPF from Rs. 500-1.5 lac. In GPF minimum 6 % of emoluments up to basic salary.
3. The interest rate for 2017-18 for EPF is 8.55%, for PPF and GPF is 8%.
4. EPF and PPF have a lock-in period of 5 and 15 years respectively. In GPF contribution continue till 3 months prior to retirement.

5. EPF account can be closed in case individual is unemployed for 2 or more months. PPF can be closed only after 5 years in case of medical emergencies or education. GPF can be closed only when the employee leaves government employment.
Additional Reading: -Basic comparison between EPF vs PPF vs GPF

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