New Delhi, May 25 -- Retirement fund body, the Employees' Provident Fund Organisation (EPFO) is offering EPF and voluntary provident fund (VPF) at 8.25% interest this quarter for salaried citizens.

Notably, subscribers are eligible to open an EPF account if their basic pay and dearness allowance is up to Rs.15,000 and can add VPF option if basic pay and DA exceed Rs.15,000 per month. The scheme functions through joint contributions from both the employer and employee, wherein you receive the lump sum corpus at retirement.

In terms of tax benefits, annual employee contributions up to Rs.1.5 lakh are exempt under Section 80C of the old tax regime. Employers' up to 12% contribution (below Rs.7.5 lakh) is exempt under the old and new tax re...