POSTED BY February 17, 2012 9:05 am COMMENTS (4)
ONMy present age is 40 and another 20 years job at hand.
I have 12 lc in my PF account now and want to make it 1 Cr while my retirement.
Can you suggest now onwards, what is the amount should I deduct from my salary.
My present salary is 55K in hand, apart from some other Incentive ,LTA etc.
Thank You
Regards
Koushik Roy
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Hi,
I agree with Ashal. Voluntary PF is the way to go for if you need higher PF balances. You can go upto 100% of Basic + DA into PF.
Along with PF, you then get entitled to a Pension (which is not great), but still is a monthly cash flow.
Regards
BFA
Dear TheZionView, Apart from regular 12% of Basic + DA, one may invest more in PF out of his/her own choice. This is called VPF (Voluntarily Provident Fund) Contribution.
A lot of person (mainly those who are about to retire in next 3-5 years) in my organization are using the VPF route to increase their retirement kitty.
Thanks
Ashal
Dear Koushil Roy, what’s the current PF deduction from your salary & how much is the addition done by your employer?
Please post the same.
Thanks
Ashal
With Jago Investor calculator i arrived at 16000 per month as EPF with assumption of 8.5% interest rate.This was without considering inflation.
I believe we can only ave 100% of basic as EPF not more than that and we cant include allowance into PF.