PF Calculation: Have you ever seen or feel the real power of PF? If your answer is no, then this article is made for you. If your salary is Rs 50,000, then you can able to get more than Rs 5 crore. Yes you’ve heard it right. If you are curious about it, then read this news carefully.
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 this, the company in which you work deposits 12 percent of your salary in this fund scheme and the same amount is deducted from your salary. Let us tell you how a person can raise more than Rs 5 crore with a salary of Rs 50 thousand.
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. Currently, 8.25 percent interest is available on PF annually.
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 of the fund from your basic salary on PF and deposits the same amount in your PF account itself.
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.