Hello, maximum switching freqeuncy depends on many factors.
This transistor comes under many brands and datasheets show different values for same property.
http://www.datasheetcatalog.com/datasheets_pdf/T/I/P/3/TIP31C.shtml shows you many datasheets, several of them specify ft and switching behavior under various conditions (for example Mospec).
Once you have a transistor, turn-off and turn-on times vary significantly on how you drive the transistor and whether or not you use the transistor in a hard-switched or soft-switched application. You may know that increasing the frequency gives more switching loss, so also the accaptable switching loss determines the maximum frequency for your application.
To be honest 500 kHz is very high for this transistor in a hard-switched application. I expect relative high switching loss.
Probably you have these at hand, If not a mosfet would be better.
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ft (transition frequency) is that frequency where the AC hfe of transistor reaches 1.
They may specify an AC hfe at certain frequency. When hfe = 10 at 1 MHz, then ft = 10 MHz.
The DC hfe can be high (for example 80), but when you increase frequency your reach a point where hfe start to drop with 6 dB each doubling of frequency. This is mainly due to base emitter diffusion capacitance.
There is no straight relation between ft and switching frequency as other transistor parameters play a role in that. Therefore they may specify switching times.
You will see that the turn-off time is always longer then the turn-on time. This is because of charge storage in the base region when the transistor is switched into saturation. This charge must be removed first before the transistor comes out of saturation and begins to turn-off.