EPFO Latest Update: In today's time, PF facility is given to employees in almost all private companies. In such a situation, PF account holders have to deposit a certain amount in their account. If an account holder wants to get a fund of Rs 5 crore on retirement (retirement fund in EPFO), then he will have to contribute this amount every month.

After this, on retirement, the employee will be given an amount of Rs 5 crore by EPFO ​​(EPFO latest news). Employees can use this amount to meet any financial need. Let us know in detail about this update of EPFO.

The government will give this much interest-

Under the Central Government Employees Provident Fund Account, interest (EPF Interest Rate) is given by the government every year. As of now, the government is offering interest up to 8.25 percent under the PF account. This interest is deposited in the employees' accounts every year. You do not have to pay any kind of tax on the interest rate deposited in PF (EPFO Pension Scheme). Because this tax is completely tax-free.

You can withdraw money in an emergency-

EPFO employees are also given the facility to withdraw money in an emergency (EPFO Emergency Fund). Employees can withdraw emergency funds from EPF to meet specific needs (EPFO Emergency Fund uses) like further education, marriage, house construction, and illness.

To get an amount of 3 to 5 crores, you will have to make this much contribution-

If you want to get an amount of Rs 3 crore on retirement (investment to get Rs 3 crore on retirement), then you will have to contribute Rs 8,400 every month for 40 years. After this, on maturity, you will be given 8.25 percent of the existing amount at the interest rate (PF account interest rate), which amounts to a total of Rs 3,01,94,804.

If you want to get an amount of Rs 4 crore on retirement, then you will have to invest Rs 11,200 every month for 40 years. After this, on maturity (maturity amount in PF account), you will be given a total of Rs 4,02,59,738 at the current interest rate of 8.25 percent.

On the other hand, if you want to get an amount of Rs 5 crore on retirement, then you will have to invest Rs 12,000 every month for 40 years. After this, on retirement (Update for retired employees), you will get Rs 5,08,70,991 at the interest rate of 8.25 percent.

Do this to check EPF balance-

If your mobile number is linked with your EPF account (PF account balance check), then you can check the balance directly by giving a missed call to 9966044425. Apart from this, the balance can be checked by sending an SMS by typing 'EPFOHO UAN ENG' to 7738299899. Balance can also be checked by logging in to the EPF Passbook Page. Apart from this, the balance can also be checked from the Umang App.

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