EPFO Interest: Know your monthly contribution to make Rs 4cr, Rs 5cr, Rs 6cr retirement corpus through calculations
To get Rs 4 crore on retirement, one needs to contribute Rs 11,200 per month for 40 years. On maturity, you will get a total of Rs 4,02,59,738.7 at current interest rate of 8.25 per cent.
EPFO is an investment scheme provided by government. In this scheme, both employees and employers invest on a monthly basis.
EPF: Rate of interest
The rate of interest is 8.25 per cent annually.
What are benefits of EPF?
- Financial stability during retirement.
- There is one time investment required after retirement. An employee just need to make monthly investment to attain big corpus at retirement.
- Useful in emergencies.
- Can be withdrawn during your service tenure.
EPFO schemes
- Employees' pension scheme (EPS)
- Employees' provident fund scheme (EPF)
- Employees' Deposit Linked Insurance Scheme (EDLI)
EPFO services
- Online registration
- You can generate UAN details online
- Can pay EPF subscription online
- EPF challan online
- Address you grievances
- Transfer claims online
What can be your monthly contribution to build a Rs 4 crore corpus?
To get Rs 4 crore on retirement, one needs to contribute Rs 11,200 per month for 40 years. On maturity, you will get a total of Rs 4,02,59,738.7 at current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 5 crore corpus?
To get Rs 5 crore on retirement, one needs to contribute Rs 12,000 per month for 40 years. On maturity, you will get a total of Rs 5,08,70,991.64 at current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 6 crore corpus?
To get Rs 6 crore on retirement, one needs to contribute Rs 12,100 per month for 44 years. On maturity, you will get a total of Rs 6,04,35,029.1 at current interest rate of 8.25 per cent.
When was EPF scheme launched?
It was launched in 1952 and was implemented under the Employees' Provident Fund Act.