EPF Calculator: When you are working, every month you contribute a fixed amount to your EPF account. This amount decides your financial future at the time of retirement.
EPF Calculator: When you are working, every month you contribute a fixed amount to your EPF account. This amount decides your financial future at the time of retirement. Helpful in meeting your needs and responsibilities. If you are in a job today, then how much money will be in EPF on retirement, this thing must have come to mind. Have you ever tried to calculate? If not, then today we try to calculate it here on salary (Basic + DA) of 50 thousand rupees every month.
Understand the calculation here
According to the EPF calculator of online investment portal Grow, suppose your salary (Basic + DA) is 50 thousand rupees. You are currently 30 years old. 12 percent of your basic salary goes to the EPF account. The annual increase in your salary is 5 percent and the interest on EPF is 8.5 percent, so according to this, how much money will be received on retirement. According to the Grow EPF calculator, on this basis, a total of Rs 2,69,68,591 will be deposited in your EPF account at the age of 60 years of retirement.
These data are important in calculating
In the above calculation (EPF Calculator), the monthly basic salary, the amount you are contributing to PF, your retirement age (even if VRS is taken), your current EPF balance and the interest rate applicable on EPF, all these have been made on the basis. is. On the basis of this, the calculation of money in PF account has been done at the time of retirement.
Emphasis has been laid on increasing the minimum monthly pension
Under the Pension Scheme of the Employees’ Provident Fund Organization (EPFO), it is too little to give Rs 1,000 as minimum monthly pension to the subscribers (EPFO subscribers). In such a situation, it is necessary that the Ministry of Labor takes forward the proposal to increase the pension amount. Last month, the Parliamentary Standing Committee on Labor in its report tabled in Parliament on Demands for Grants 2022-23 said that the monthly pension of Rs 1,000 fixed eight years ago is now too low.
