EPFO: PF is a safe investment option, where your money is deposited at fixed interest without any risk. If your salary is Rs 50,000, then by investing continuously on a monthly basis and using it properly, you can accumulate Rs 5.5 crore over time… Understand its calculation in the news below-
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 the question is how to save? So let us tell you that 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, then 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. This 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, he can accumulate 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 received on PF. The government has revised the interest rate on PF. Currently, 8.25 percent interest is received annually on PF.
You will get a retirement fund of Rs 5.5 crore-
If your salary is Rs 50,000 per month 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 Rs 50,000 per month, then a total of Rs 24,000 will be deposited in your PF and if you start investing at the age of 22, then after 60 years a total of Rs 1,36,38,805 will be deposited in your account. On the other hand, if you add interest at the rate of 8.25 percent to it, then it will be Rs 4,20,45,241. If you add both of these, then after 60 years you will have a total of Rs 5,56,84,046. This means that you will have an amount of more than Rs 5.5 crore after retirement.
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