Do not rush to withdraw money from PF account will cause more loss
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The government has launched an online facility to withdraw money from the Employees Provident Fund (EPF or PF). This has made it easier to withdraw money from PF. So now if people need money, people withdraw money from their PF fund. If you are also planning to withdraw money from a PF fund, you need to know how much your retirement fund will lose if you withdraw money from here.
How much will it affect your fund?
According to estimates, if you have 30 years left in your retirement and you have yet to withdraw Rs 50 lakh from your PF account, it will affect your retirement fund by Rs 5 lakh 27 thousand. Find out here how much your withdrawal will affect your retirement fund.
How much money will be withdrawn after 20 years (Rs.) How much less after 30 years (Rs.) 10 thousand 51 thousand 1 lakh 16 thousand 20 thousand 1 lakh 02 thousand 2 lakh 31 thousand 50 thousand 2 lakh 55 thousand 5 lakh 58 thousand 1 lakh 5 lakh 11 thousand 11 lakh 55 thousand 2 Lakh 10 lakh 22 thousand 23 lakh 11 thousand 3 lakh 15 lakh 33 thousand 34 lakh 67 thousand
Note: This table is given according to a rough estimate. Apart from that the interest mentioned in the table is calculated on an annual basis.
Do not withdraw money from PF fund if not required
According to a money management expert, avoid withdrawing money from PF unless absolutely necessary. It is earning interest at 8.5%. The larger the amount withdrawn from the PF, the greater the impact on the retirement fund.
How much PF is cut?
According to the rules, salary earners are required to contribute 12% of their salary and dearness allowance to the PF account. As well as 3.67% of the amount deposited from the company is deposited in EPF. The remaining 8.33% is credited to the Employees Pension Scheme (EPS).
source by source by :www.divyabhaskar.co.in/
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