Monday, October 3, 2022

Be careful before you withdraw money from PF, if you withdraw Rs 1 lakh, there will be a loss of up to 11 lakhs, know here – how

New Delhi: Important news for employed people. Actually, saving through EPF is a good way for employed people. Under this, his salary is deducted every month and he gets a significant amount on retirement. But many times people withdraw money from it even before retirement. People withdraw money from EPF for various purposes including bank loan repair, marriage, education, medical emergency, buying a house or getting renovated.

This is also important, but while withdrawing money from EPF, care should be taken whether work can be done without it or not. Actually, if you withdraw money from EPF before retirement, you can lose up to 10 times. Let me tell you that you get very good interest on the money deposited in your PF account, in such a situation, EPF should be taken out only in case of need or work.

Learn how and how much you lose when you withdraw money from EPF

According to a figure, if you withdraw 1 lakh rupees from your EPF account, then you can lose more than 10 times on retirement i.e. up to 11 lakh rupees.

According to a report, if you have 30 years left in your retirement and you withdraw 1 lakh rupees from the EPF account, on retirement, your account will be reduced by about 11.55 lakh rupees.

In fact, currently 8.5% interest is being received on the amount deposited in the EPF account. Which is the highest interest among all small savings schemes. In this case, the higher the amount in your EPF, the more benefit you will get and the more money you will get on retirement.

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Nation World News Desk
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