Employee’s Provident Fund denoted as EPF or PF, forms a significant part of the retirement funds you get. Under this scheme, the employee contributes 12% of his or her basic pay + DA towards the PF. The employer matches this amount, so it is another 12% of the employee's (basic Salary + DA).
However, while the actual contribution by the employee goes towards the EPF, the employer’s contribution is divided between EPF and EPS for the employee.
The Employee Provident Fund Organization (EPFO) makes a provision to allow the employee to contribute more than the mandatory 12% towards the EPF. The excess amount is managed separately, as a Voluntary Provident Fund (VPF), earning interest. On retirement, the employee gets the saved up EPF and VPF funds plus the interest earned.
It is best to keep this corpus secure for your future. Make some safe investments in growth instruments to keep up with inflation. You can use fixed deposits and other savings to secure a part of your PF funds for assured returns. Bajaj Finance Fixed Deposits offer great interest rates backed by CRISIL’s and ICRA’s stable ratings, thus ensuring your investment is safe. Depending on your risk appetite, you can also allocate part of your funds to some capital growth options.