EPFO Interest: What can be your monthly EPF contribution to build Rs 1 cr, Rs 2 cr, Rs 3 cr retirement corpus; check calculations
Employees' Provident Fund Organisation (EPFO) provides monthly pension to its participants after the age of 58. If someone wants to get an early pension, they should be atleast 50-year old, according to EPFO rules.
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Employees' Provident Fund Organisation
Employees' Provident Fund Organisation (EPFO) provides monthly pension to its participants after the age of 58. If someone wants to get an early pension, they should be atleast 50-year old, according to EPFO rules.
What is EPFO?
EPFO is a government scheme and salaries employees can take benefit of this. Every month, employee and employer contribute to this scheme.
What is the interest rate on EPF?
The current interest rate is 8.25 per cent however the government decides the interest rate every year.
A way to secure financial future
EPF is one of the safest way to secure future financially.
What should be the age to get EPFO pension?
One needs to attain the age of 58 to get a pension under the EPFO scheme however If someone wants to get an early pension, they should be at least 50 years old, according to EPFO rules.
Eligibility for pension
One of the prerequisites for receiving EPF benefits is to complete 10 years of service.
Minimum/mandatory contribution in EPF by an employee
The minimum contribution by an employee should be Rs 1800 per month and the maximum is 12 per cent towards EPF.
What can be your monthly contribution to build a Rs 1 crore corpus?
To get Rs 1 crore on retirement, one needs to contribute Rs 4,300 per month for 35 years. On maturity, you will get a total of Rs 1,01,77,208.3 at current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 2 crore corpus?
To get Rs 2 crore on retirement, one needs to contribute Rs 8,500 per month for 35 years. On maturity, you will get a total of Rs 2,01,17,737.3 at current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 3 crore corpus?
To get Rs 3 crore on retirement, one needs to contribute Rs 12,000 per month for 36 years. On maturity, you will get a total of Rs 3,09,00,516.22 at current interest rate of 8.25 per cent.