The Employee Provident Fund (EPF) is a financial tool provided by the Government of India, which is responsible for managing the Provident Fund and pensions. Each month, the specified amount is deducted from your pay slip and added to your EPF account.
This EPF account will be accessible to subscribers at a later stage, perhaps after retirement. Believe it or not, this investment can be very profitable at a later stage. In particular, the employer donates the same amount to the fund.
For the inexperienced, EPF will offer an interest rate of 8.5% in the 2020-21 fiscal year. Interest rates on this are higher than those offered by the schemes offered by most banks.
At such an interest rate, if a person has a basic salary of Rs 25,000 per month, he can accumulate funds of Rs 1.65 in 35 years.
Jay Jhaveri, a partner at Bhuta Shah & CoLLP, said: At the same time, revenue provides not only inflation protection but also emergency assistance. “
Monthly investment in EPFO helps to get 1.5 rupees
Source link Monthly investment in EPFO helps to get 1.5 rupees