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Provident fund schemes provide an opportunity for salaried employees to create a retirement corpus and make regular investments. With this investment, employees can withdraw the entire amount after retirement. Its purpose is to help employees financially after retirement. Under PF schemes, employees contribute a small amount of their income every month and withdraw the total amount after retirement. However, you can also take it in the form of a pension.

Crorepati in 30 years

If you have been working continuously for 30 years, do you know how much money is there in your PF account? Today, through this news, we are going to tell you that if you have been working continuously for 30 years and every month Rs 7200 is going into your PF, then you can become a crorepati in 30 years.

If you invest Rs 7200 every month in PF and get 8.25 percent interest on it, then within 30 years you will have Rs 1,10,93,466.28. Not only this, along with depositing PF, you also get many services.

Benefit of pension

PF money is deposited in two parts - EPF i.e. Employee Provident Fund and EPS i.e. Employee Pension Scheme. 12 percent of your salary is deducted, and 12 percent is given by the company. The pension corpus is prepared from the company's contribution. However, eligibility for pension is only after the age of 58, and for this, you should have at least 10 years of service. The minimum pension amount is Rs 1 thousand.

Benefit of nomination

In the recent past, EPFO has repeatedly asked the subscribers to make nominations for this facility. You can make anyone a nominee in your EPF account. If the person who has a PF account dies, the nominee gets the PF money.

Investment in VPF too

Apart from EPF, employees can also invest in VPF i.e. Voluntary Provident Fund. You can also put an extra contribution to your basic salary in VPF.

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