Earning money while working is important, but saving is even more important. Sudden financial needs can arise at any time. In such situations, your savings are helpful. Now, how to save? So, the saving scheme provided by the government, such as PF, is a great way to contribute to it. For example, if your salary is Rs 50,000 per month, you can accumulate up to Rs 5.5 crore through regular savings.
Many investment schemes are run by the central government. The government formed EPFO for investment. Which is a very beneficial organization, especially for private employees. A person working in a private company can invest more than Rs 5 crore through the PF scheme run by EPFO.
PF Calculation-
PF scheme is a government scheme, in which your employer deposits 12% of your salary and the same amount is deducted from your salary. If a person works on a monthly salary of Rs 50,000, then he can raise more than Rs 5 crore through the benefit of interest over time.
How will your fund in PF become more than Rs 5.5 crore? Before understanding this, it is important to know how much interest is available on PF. The government has revised the interest rate on PF. At present, 8.25 percent interest is available annually on PF.
You will get a retirement fund of Rs 5.5 crore-
If your salary is Rs 50 thousand monthly and that salary is increasing by 6 percent every year and you invest in PF from the age of 22, then after retirement you will have more than Rs 5.5 crore. EPFO deducts 12 percent fund from your basic salary on PF and deposits the same amount in your PF account.
Now if your salary is 50 thousand rupees every month, then a total of 24 thousand rupees will be deposited in your PF and if you start investing at the age of 22, then after 60 years a total of 1,36,38,805 rupees will be deposited in your account. On the other hand, if you add interest at the rate of 8.25 percent to it, it will be 4,20,45,241. If you add both of these, then after 60 years you will have a total of 5,56,84,046 rupees. This means that you will have more than 5.5 crore rupees after retirement.
Disclaimer: This content has been sourced and edited from Hr Breaking. 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.
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