According to a report, now this limit can be increased to Rs 21,000 a month. Last time this limit was increased in 2014. Then the monthly limit for EPFO ​​was Rs 6500, which was increased to Rs 15,000. However, this limit is applicable only to those companies where the total number of employees is more than 20.

The government is hopeful that after increasing the salary limit for joining EPFO, the mandatory contribution from the side of the company and the employees will increase. This will enable employees to save more for their retirement. With this, more and more people will come under the ambit of EPFO.

According to a report in ET, after increasing the salary ceiling of EPFO, about 75 lakh employees will come under this purview. Presently 6.8 crore employees are registered under EPFO.

How does this sealing work?

At present, employees earning Rs 15,000 per month come under the purview of EPFO. The company and the employees together have to contribute 12% of the salary to the EPFO. Secondly, those employees of the organized sector whose salary is less than Rs 15,000 are also required to become members of EPF. In such a situation, if the employee wants, he can increase his contribution, but only a fixed amount is contributed by the company.

The post EPFO Salary Increased Limit: Big News! Can the government increase the salary limit of EPFO? Currently this limit is ₹15,000 per month first appeared on Rightsofemployees.com.

There are many schemes going on in the market regarding investment, some of them are Fixed Deposit, Public Provident Fund (PPF) and National Pension System (NPS). Talking about NPS, it is a voluntary retirement savings scheme, which encourages you to have planned savings. In this, you can keep your savings safe in the form of pension.

If you work in the private sector, you should consider investing as early as possible. Suppose you start investing Rs 4,000 every month in NPS at the age of 26 and continue investing till the age of 60, you will get more than Rs 35,000 as monthly pension. This is added by keeping the interest rate at 11 per cent.

About 2 crores back

If you start investing in this scheme from the age of 26, then your total investment will be Rs 16,32,000 when you reach the age of 60 years. At this point of time, your total corpus will be Rs.1,77,84,886. You will be surprised to know that you have invested only Rs.16,32,000 but you are getting back almost Rs.2 crores.

Your life will be happy after retirement

If you invest money in this scheme, then the lump sum return you will get will be Rs 1,06,70,932, while you will get around Rs 35,570 as monthly pension. So, you can see that not only will you be getting a pension of around Rs.35,000 per month starting at 61 years of your age, but you will also be getting a lump sum payment of more than Rs.1 crore. You will get so much money that your life will be happy after retirement.

The post NPS New Pension Plan: Get a pension of Rs 35,000 by investing Rs 4000 a month, you will get one crore first appeared on Rightsofemployees.com.