PPF Calculator: Money earning opportunity post-retirement! Turn Rs 100pd into Rs 3.86 lakh per annum - tax free! Do this

PPF Calculator: Earning a salary is not enough. If you want more money, then you will have to do this and it will ensure wealth keeps flowing non-stop in your bank account! Public Provident Fund or PPF is considered one of the most sought retirement-oriented investment funds for those who have low risk appetite. However, if we go by the advise of tax and investment experts, one should have a diversified portfolio where some fund must be allocated to the risk-free assured return investment tools. This means, money will continue to flow into your bank account even if the world economy is in crisis. They are of the opinion that the way stock market has remained volatile in recent two months, guaranteed small saving schemes backed by the Government of India (GoI) have underlined their value.

Speaking on PPF calculator and PPF rate of interest; Manikaran Singhal, a SEBI registered tax and investment expert said, "If someone starts investing in PPF account at the age of 25 then he will have near 35 years time to invest in this money-making instrument. Using the PPF calculator and current PPF interest rate 2020 of 7.1 per cent, if a person starts Rs 3,000 monthly investment in a PPF account, then the maturity amount, after 35 years of continuous investment at 7.1 per cent average interest rate, will be Rs 54,47,486." Means, the money will grow to a massive amount of Rs 54.47 lakh. And what did the investor do? Just saved Rs 3,000 per month or Rs 100 per day (3000/30 = 100) in a dedicated and patient manner.

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On his part, SEBI registered tax and investment expert Jitendra Solanki, went one step ahead and gave this great money-making tip for those who want something extra in terms of even more money. He said "After 60 years, one should not go for PPF withdrawal but continue submitting Form-H, which the account holder has probably been submitting since hitting the first maturity period after 15 years . By doing this, he or she will be able to get Rs 3,86,771 annual PPF interest, which he or she can use for meeting all post-retirement needs." Amazing!

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Let us also give you more good news! This Rs 3,86,771 will be income tax exempted under Section 80C of the Income Tax Act 1972 as PPF investment falls under EEE category where investment, interest and maturity is income tax exempted.

Solanki said that PPF account can be extended for next five years after 15 years maturity unlimited number of times but to avail income tax exemption and PPF interest, one needs to submit Form-H within one year of the maturity of PPF account.