Public Provident Fund Investment: If you also want to have a large and safe fund at the time of retirement, then it is important to start making the right investments from now on. Public Provident Fund (PPF) is a government scheme which provides the benefit of compounding as well as an opportunity to save tax to those who make regular investments over the long term. This is the reason why it is considered an excellent option for safe investment.

The most special thing about this scheme is that you do not need to invest a huge amount in it. In such a situation, if you save an amount equal to the cost of a cup of tea daily and invest continuously, then after a long time you can create a fund worth crores of rupees. Let us know its complete calculation and benefits of investing in PPF….

How to create a big fund by saving Rs 136 daily?

• For this you will have to deposit Rs 50,000 in PPF every year.
• That means you will have to save around Rs 4,166 every month and Rs 136 daily.
• If you start investing from the age of 20 and continue it till 60 years, then the investment period will be 40 years.
• Your total investment during this period will be Rs 25 lakh.
• According to the current interest rate of 7.1% per annum, the maturity amount can be around Rs 2.25 crore.

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What is the advantage of starting investing early?

• If you start investing at an early age, you will get the full benefit of compounding.
• By investing in it for a long time, interest continues to be earned.
• If you start investing late, you may have to deposit more and more money to achieve your target.
• This is why financial experts recommend starting retirement planning soon.

What are the benefits of investing in PPF?

• This is a secure investment scheme supported by the central government.
• In this, you also get the benefit of tax exemption under Section 80C of the Income Tax Act.
• As per the prescribed rules, interest and maturity amount remain tax-free.
• The initial maturity of PPF account is 15 years.
• After maturity, the account can be extended in blocks of 5 years.

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PF Retirement Fund: There are crores of PF account holders in the country and money is deposited in PF every month from the salary of most of the working employees. PF account is also considered a strong long-term savings plan. In this, 12 percent of the employee’s salary is deposited every month and the same contribution is also made by the company. This is the reason why a huge amount can be made in it over time.

Many people wonder how a big fund can be created by making a small deduction every month. But when this money keeps getting deposited for years and interest is also earned on it. So by the time of retirement this amount becomes quite big. If an employee continuously invests in PF on a salary of Rs 50 thousand and works for a long time. So at the time of retirement, a fund worth crores of rupees can be created. Know the complete calculation.

How does PF become a source of big savings?

To safeguard the savings of the employees, the Central Government has created the system of Employees Provident Fund Organization i.e. EPFO. This is considered a very important scheme especially for the employees working in the private sector. During job, money is deposited in PF every month and this amount later creates a big retirement fund.

• The most important thing about PF is that it includes the contribution of the company along with the employee.
• 12 percent of the employee’s basic salary goes into PF every month.
• The company also contributes the same 12 percent.
• That means overall 24 percent amount is deposited in the account every month.
• Annual interest fixed by the government is also available on this money.

This is the reason why this fund gradually turns into a huge amount on regular investment.

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How can a big fund be made on a salary of Rs 50 thousand?

If the monthly salary of an employee is around Rs 50 thousand, then a good amount of money can be deposited in his PF account every month. As salary increases with time, the amount going into PF also increases. This is the reason why the fund starts growing rapidly in the long run.

If we understand this calculation in a simple way then the situation could be something like this.

• Monthly salary should be considered to be around Rs 50 thousand.
• There should be an average increase of 6 percent in salary every year.
• Employees should start working at an early age.
• Every month the contribution of both employee and company should go into PF.

In these circumstances, the amount deposited over many years gradually increases and by the time of retirement this fund can reach crores.

The amount increases due to interest.

The biggest strength of PF account is the interest received on it. At present, around 8.25 percent interest is being given annually on PF. This interest keeps getting added to the deposited amount every year, due to which the total fund starts increasing rapidly.

If an employee starts investing in PF at the age of around 22 years and continues to contribute till retirement, then the amount deposited and the interest earned on it together can generate a huge amount.

• Continuous investment continues for a long time.
• The fund grows rapidly as interest is added every year.
• With increase in salary, the amount deposited in PF also increases.

Combined with all these aspects, one can create a corpus of more than Rs 5.5 crore by the time of retirement. This is the reason why PF is counted among the most reliable savings plans for retirement.

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Every month, a fixed amount from the salary of almost every working person is deposited in PF i.e. Employees Provident Fund. This money provides financial support after retirement and also gives the option of partial withdrawal if needed. In such a situation, it becomes important for every employee to know how much amount is deposited in his PF account. Earlier, to know the PF balance one had to visit the office. But now most of the work has become online. However, sometimes it happens that the employee does not remember his UAN number or it is not active. In such a situation, people think that balance cannot be checked without UAN, but it is not so. PF balance can be checked even without UAN. Let us now tell you how to find out PF balance without UAN number.

You can check PF balance through missed call

If your mobile number is linked to the EPF account then you can get the balance information by just giving a missed call. For this, first of all give a missed call to 9966044425 from your registered mobile number. Then the call will be disconnected automatically. After this, within a few seconds an SMS will come on your mobile which will contain information about member ID, last deposit amount and total balance. Keep in mind that this facility will work only when your UAN is active and Aadhaar, PAN or bank details are updated in KYC.

You can also check balance through SMS

You can also check your PF balance through SMS without UAN number. For this you will have to send a message to 7738299899 from your registered mobile number. You keep the message format EPFOHO UAN ENG on this number. In this, ENG stands for language. In such a situation, if you want information in Hindi, you can also write HIN. After this, after some time of sending the message, the details of PF balance will come on your mobile.

What things should be kept in mind while checking PF balance?

In many companies, PF is managed by a private trust. In such a situation, the balance is not visible to the employees on the EPFO ​​portal. Therefore, they can get information from their salary slip, company’s internal portal or HR department. While checking PF balance, always keep in mind that your mobile number should be linked to the EPF account. It is necessary to have active UAN, Aadhaar, PAN and bank details should be updated in KYC. Keep in mind that if UAN has been activated recently, it may take some time for the passbook to appear.

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Employed people in India contribute to the Provident Fund Retirement Fund, a social security scheme run by EPFO, for their future. This fund provides financial help to the employee in emergency. Whereas in PF, the contribution of both the employee and the employer is included. At present the government gives 8.15 percent interest on PF account. At the same time, money can also be partially withdrawn from the PF account if needed. You can withdraw money from PF account to repay the loan, in case of any emergency or even for your marriage. In such a situation, let us now tell you how much money you can withdraw from your PF account for your wedding and what the EPFO ​​rules say about it.

for the wedding How much money can be withdrawn from PF account?

• According to the rules of Employee Provident Fund Organization, an employee can withdraw money from the PF account to spend on his own wedding. However, to withdraw money from the PF account for one’s own marriage, the employee has to fulfill certain conditions.
• To withdraw money from PF account for one’s marriage, an employee has to complete at least 7 years of service.
• Apart from this, the employee can withdraw only 50 percent of the total amount deposited in the PF account for his marriage. An employee cannot withdraw the entire amount from the PF account at once for marriage.
• Employees can withdraw money from their PF account for their own marriage and the marriage of their family members. However, for this, permission is given to withdraw 50 percent of the money deposited in the account only three times.

How to withdraw money from PF account?

1. To withdraw money from PF account, first of all you have to go to the official website of EPFO ​​https://unifiedportalmem.epfindia.gov.in/memberinterface.
2. After this, you will have to login to the website by entering UAN number and password.
3. Now you will have to go to the online service and select the claim option.
4. After this, after entering the last four digits of the bank account number and signing the certificate, you will have to click on Proceed to Online Claim.
5. Now you have to enter the number you want to withdraw and upload the scanned copy of bank passbook or cheque.
6. Claim has to be submitted after address verification and entering OTP.
7. Once the claim is submitted and the employer’s permission is received, the money will be transferred to your account.

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