I would like to reduce EPF contribution to the minimal amount of Rs.1800 per month and to cover section 80C, I would like to invest the balance amount in ELSS to cover the same.
I am planning to hold this MF for more than 5 years.
Is it advisable to do it ?
Since I have home loan principal under section 80C, I am note worried so much on tax exemption for EPF or ELSS.
You are not allowed to reduce EPF below the prescribed limit of 12% of your Basic+DA.
Thanks for your reply.
I check with my payroll team for the PF reduction. They confirmed me the same that one
can choose to have PF deducted on the ceiling of Rs. 15,000 which would be Rs. 1,800 monthly.
Please advise me if I can invest this amount to ELSS fund to get better returns for long term investment ( > 7 years) ?