EPF Balance @ Retirement - Calculator (Hindi) - YouTube

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Namaskar, my name is Mukul and you are welcome to the Asset Yogi

In our last video, what is the contribution of EPF i.e Employee Provident Fund ?

How much is deducted from our salary?

And how much amount is contributed by the company?

We talked about these things. So if you haven't watched the video yet

Then you must watch it. You will find the link in the description

Now with a continuation to that, if we want to calculate

how much amount of provident fund will be accumulated after a particular time?

Let's say, how much will be the amount at the time of retirement?

If you want to see how much will be the amount after 5, 10 or 15 years

For that, I have made a comprehensive calculator.

See, we can surely check the current balance of EPF online

The amount that you have invested till now

You will know the total amount of that online

But what will be the amount in the future

You can calculate that with the help of this calculator

So stay tuned in the video

Music

Before starting the video, I would like to clarify a point

Lots of people's query has come in the last video

that both the portions are cut from our salary

Both employee and the company

So see, I will clarify this here

When a company is contributing something from their side

This means whatever amount it is investing in the PF

That is a cost for the company

So whenever the annual package is made from your salary

The company shows it as a cost to the company

See your salary package

The PF contribution of the employer is mentioned there

So indirectly you can understand that

It is a part of your salary

Both employer's contribution and employee contribution

So I hope you got the clarification here.

See, as we talked about in the last video

There are two types of account

The first is EPF, all your contribution

goes to the EPF.

We also call it Employee Provident Fund

And the second account is EPS which means Employee Pension Scheme

The contribution of the employer i.e company

gets divided and some portion goes to the EPF and some go to the EPS

How many portions go to EPF and EPS, we talked about it in the previous video

So please watch that video. In this video, I will show you the calculator

And we will talk about the total amount in this calculator

What is the total amount of EPS or EPF that we will get ?

Either at the time of retirement or after a particular time

That is 2 years, 4 years, or 5 years whenever you want to calculate it

So let's go we will see the calculator

Firstly you have to put inputs and the ones you are seeing in the yellow color you have to input here

Firstly you will enter your present age here.

I have assumed 24 here.

After that, you will enter your retirement age here.

You can withdraw 100% amount from the EPF after the age of 58 years

So I have assumed 58 here

If you want to assume 59 or 60 here then you can do it.

You have to enter your current monthly salary. Please pay attention

You have to enter your basic salary here. If you are a private employee then

generally, the private employees do not have DA(Dearness Allowance)

And if you are a government servant then you have to enter basic plus DA

You have to enter the total amount here.

Be careful, you don't have to put your monthly salary here

You have to enter only basic salary or basic plus DA

After that, how much is your increment per year? How much are you expecting?

5%, 10%, 15% you can assume whatever you want

After that, the three columns that you are seeing

You have to change only when the default options get changed

On today's date, the minimum salary for EPF calculation is 15000 Rs

Do you don't have to change it on today's date

If this gets changed in the future then you can change it

The employee contribution on today's date is 12%

The employer's contribution is also 12% so you don't have to change it

I have assumed the interest rate of EPF as 8%

Currently, it is 8.65%

So you can change it also. Right now we will calculate it according to 8%

The interest rate of EPF fluctuates between 8 to 9 % on today's date

So you can change it here if you want

After that, see, the monthly salary that we entered here

Like we have entered 30000 Rs

So if this is more than 15000

The minimum salary for EPF is 15000 Rs

EPF will be deducted if the salary is below than that

If your salary is more than 15000

So your company has to pay EPF on a minimum of 15000

EPF+ EPS

And according to 15000, your EPF will also be deducted

So in this column, if your company cuts your EPF on your minimum salary i.e. 15000

Then you have to select yes here

Otherwise, leave it as no.

So we are seeing that the salary is 30,000 here that means

we are assuming that the company is cutting 12% on 30,000 Rs

If we would have done yes here

Then we would have assumed

I will show you by selecting yes

It has assumed the monthly salary of 15000 Rs

But in an ideal case, we will select no.

If in your company, they cut your EPF on the minimum salary

In that case, only, select yes. Otherwise, leave it as no.

Now we will see the results here. What results are we getting?

First of all, see this column at the left

This is the column of the year. So this is the 1st and 2nd year, they are going in this way

Your calculation is done monthly.

You will get the months in the second column. 1,2,3,4, 12 and so on

After that in the third column

You will get the monthly salary for EPF calculation

We have calculated 30000 Rs here.

We are seeing according to 30000 Rs and 12% EPF is deducted from your side

And 12% is contributed by the company.

So we are seeing an increment of 10% every year.

So after 12 months

The salary will be 33000 Rs. In this way, it will increase by 10% every year.

So I have put that in the calculator.

After that, the fourth column is an employee

What will be your contribution, you will get that in the fourth column

In the fifth column, you will get the contribution of the company

We are calculating the total of EPF and EPS. It is also 12%. You will get that in the 5th column

And what is the total monthly contribution of employees plus employer? ?

You will get that in the 6th column. In the 7th column, what is

the balance at the end of the month. This means

the total monthly contribution is 7200 Rs

So you have seen here it is 7200 Rs. After that, in the second month,

7200 Rs are added. So your total amount will be 14400 Rs

I will explain a little bit about the interest calculation here.

Whatever your monthly balance will be

The balance at the end of the previous month

The interest will be charged on that.

The 4800 Rs that you are seeing is charged on 7200 Rs

Because the balance at the end of the previous month was 7200 Rs

So the interest charged on that is 48 Rs

Similarly, this 96 Rs is charged on the 14400 Rs

So the interest is not added every month.

This interest will be calculated every month

But the total interest of 12 months will be added all together

after 12 months. So basically we get the balance here.

I have marked this with the green portion

After one year, you will get this balance.

In our assumption, 89,568 Rs

will be accumulated after one year.

And after two years as you can see

it will be 1,95,000 Rs

And now if we want to see after the retirement then for that

We will go down. You will see this is ending here

The total investment would be for 34 years.

Because we had assumed the starting age is 24, the present age

And we had assumed the retirement age is 58 years

So our service here is 34 years. What will be the final amount that we will get?

You will get the amount of 5 crores 31 lakhs Rs here

So you can calculate in this way what amount will you get at retirement?

Or what amount will you get after how much soever time?

Let's say I want to see the amount I will get after 20 years

So see, how much amount is accumulated after 20 years

92,54,805 Rs

So in this way, you can calculate your maturity amount

EPF plus EPS means Employee Provident Fund plus Employee Pension Scheme

How much will be the total amount that you will get?

I hope you liked this video. This calculator will be very useful for you

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So let's meet in the next informative video

Till then keep learning, keep earning

And be happy as always.