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Do you know that the PF deducted from your salary every month is not just a deduction of money, but is the biggest investment in your future? Many people keep their PF account, but they do not know how many benefits it has. So, let us explain to you in simple language today why a PF account is important for you.

5 biggest benefits of Provident Fund Account:

1. Saving habit

A PF account is a kind of savings plan for you. Every month, a small part of your salary is deducted and goes directly to your PF account. That means you do not need to work extra hard to save separately.

2. Double benefit
The best thing about PF is that not only you, but your employer, i.e., the company, also contributes to it. Think about it, the company is also adding its money to your savings, which means your balance grows twice as fast."

3. Tax savings
The third big benefit of PF is tax benefits. Under Section 80C, you can avail a tax exemption of up to Rs 1.5 lakh annually. This means that it is a way to save tax along with your savings."

4. Safe investment
PF money is completely safe because it is managed by the government. Here you get fixed interest (Safe & Guaranteed Returns) every year, which is often more than a bank FD. This means your money keeps growing continuously without any risk.

5. Financial security after retirement
The biggest benefit of PF is available to you upon retirement. The money deposited for a long time becomes a support for your old age. This gives you a pension, medical expenses and financial security.

So the next time you see the line of PF deduction in your salary slip, do not worry. Understand that this is not your biggest investment of today, but of your tomorrow.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.