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Voluntary Contribution with Retirement Incentive (i-Saraan) allows our members who are self-employed and do not earn a regular income to make voluntary contributions towards your retirement, and at the same time receive additional contribution from the government.
Voluntary Provident Fund, also called as Voluntary Retirement Fund is a contribution voluntarily made by the employee. Contributions of up to 100% of the Basic salary and Dearness Allowance can be made to this provident fund. The rate of interest is the same as EPF.
Structure of PF Form 11Name of the employee.Date of birth of the employee.Father's/Husband's name.Gender.E-mail id.Mobile Number.Relationship of the employee with EPS and EPF schemes.Previous employment details such as the UAN, last working day, scheme certificate number.More items...
How to Fill Form 11Name of the member.Father's Name or Spouse's Name (whichever is applicable)Date of Birth.Gender (The form provides for three options to select from Male, Female and Transgender)Marital Status.Contact Details Email ID and Mobile Number.
To open a VPF account, an employee has to approach his HR/Finance team and advise them to raise a request for an additional contribution in the VPF through a registration form. The existing EPF account will serve as the additional VPF account. Currently, the interest is accrued at 8.5% per annum under this scheme.