Low-pressure RF plasma in fluorohydrocarbon gas mixtures is widely used in modern microelectronics, e.g. in the etching of materials with a low dielectric constant (low-k) materials). The multifold experimental and theoretical study of a radio frequency capacitively coupled plasma at 81 MHz in Ar/CF4/CHF3 has been carried out at 50 mTorr and 150 mTorr gas pressures. A wide set of experimental diagnostics together with hybrid PIC MC model calculations were applied to a detailed study of the plasmas. Measurements of the F atoms, HF molecules and CFx radicals, electron density, electronegativity and positive ion composition were performed. Absolutely calibrated VUV spectrometry was carried out to measure the VUV photon fluence towards the electrode. This combined experimental and model approach allowed us to establish the fundamental mechanisms of the charged and neutral species elementary reactions. Dissociative charge transfer reactions and fluoride transfer reactions influence the main ion (CF, CHF) composition in Ar/CF4/CHF3 plasma a lot. The mechanisms of heavy ion formation in Ar/CHF3 are also discussed. The important role of additional attachment mechanisms (besides dissociative attachment to the feedstock gases, CF4, CHF3) was analyzed. The catalytic chain mechanism, including the HF molecules, which defines the CFx kinetics in Ar/CHF3 plasma, was validated. This multifold approach enabled us to determine the complicated plasma chemical composition of the active species as well as the fluxes of VUV photons at the surface of the processed material, and is a result that is important for understanding low-k damage.