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Monday, 7 August 2017

PF account will be worth 1 crore, if not, these mistakes

New Delhi: At present, the Empayee Provident Fund EPF earns 8.65% interest. This is the highest interest in any government scheme in recent times. Most people lose millions of rupees in PF funds with their own mistakes. Today we are telling you how you can deposit more money in the PF fund.

When you get returns on return on investment, it is called Compounding. This makes your fund grow very quickly over a long period of time. That is, investment time is also very important as the rate of return found in the investment.

If you are 30 years old and in PF accounts you are depositing 3 thousand rupees every month and if the investment is increased by 8% every year, your PF fund will be Rs 1.09 crore in 30 years on the current 8.65% interest. Similarly, if you are depositing 5000 rupees per month in the PF account and if the investment increases by 8% every year then your fund will become 1.83 crore after 30 years.

You can settle the PF's money on many needs such as buying a home, getting married in the family or being unemployed. But the benefit of compounding comes to you when your investment lasts for a longer period, such as 20 to 30 years. If you have already withdrawn the PF money you may have to take a loss of millions of rupees. You can not avoid PF's money by avoiding this loss.

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