The benefits of Provident Fund begin to accrue after retirement. But many times people withdraw funds from their PF account, which is called advance.
The benefits of Provident Fund begin to accrue after retirement. But many times people withdraw funds from their PF account, which is called advance. This causes a lot of damage. Yes, because the employee does not get the compounded interest on that amount. Therefore, it is better not to withdraw money.
Interest of PF
Right now 8.50%
EPFO interest rate on PF 85% debt, 15% investment in equity
PF Withdrawal – urgent or helpless?
- Keep only the last option withdrawals from EPF
- savings for EPF retirement
- on EPF government guarantees and credit risk
- on EPF EEE tax benefits
- pre-mature withdrawal of retirement will take effect on Corpus
- less compounding power on withdrawals from investment long The
- remaining money in the fund will increase gradually
- less money will be left for retirement than before. The
- larger the amount withdrawn, the higher the loss in earnings.
Comparison of interest rates
- EPF : 8.5%
- FD(1 year) : 5.5 %
- PPF : 7.1%
- NSC : 6.8%
PF- last 7 years interest rate
- 2013-14: 8.75%
- 2014-15: 8.75%
- 2015-16: 8.8%
- 2016-17: 8.65%
- 2017-18: 8.55%
- 2018-19: 8.65%
- 2019-20: 8.50%
- 2020-21: 8.50%
EPFO Equity Investment
EPFO does not invest directly in stocks of companies.
Sensex is invested through NIFTY ETF. Investment
in 2 ETFs of SBI Mutual Fund of EPFO is
SBI ETF Nifty 50, SBI ETF invests in Sensex
Investment
EPF account holders to get 7 lakh insurance cover
The limit of insurance for employees’ death has been increased under the
EDLI-Employment Deposit Linked Insurance Scheme
EDLI, now the insurance cover of 7 lakhs was
earlier the maximum Sum Assured amount was 6 lakhs, in case
of death during the job, the family of the employee will get additional help.
Also Read: QR Code Scam: QR Code becomes a new weapon of fraud, accounts of such people are getting empty
What is EDLI Scheme?
Life insurance facility to EPFO subscribers / member employees.
All subscribers are covered under EDLI 1976 scheme.
Claim of the scheme is on the death of the employee on behalf of the nominee.
Claim is possible even after working more than 1 place within 12 months of death.
The lump sum amount is paid in EDLI, in the
scheme the company pays the premium in lieu of the employee
How are the needs met?
You can meet the financial need by taking a secured loan, you can take
gold loan, top-up option on home loan
, FD, MF, can take loan on insurance policy
Personal loan can also choose an option
Personal loan according to different requirement available
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I have prosanl lon
Hi Sis/madam
My accouct number is nlt accpecting plz make share to accpect