Press the bell icon while subscribing to the channel So that you will get the notification of the latest finance video 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 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 Rs 15000 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 Rs 30000 here. We are seeing according to Rs 30000 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 Rs 33000. 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 Rs 7200 So you have seen here it is Rs 7200. After that, in the second month, Rs 7200 are added. So your total amount will be Rs 14400 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, Rs 89,568 will be accumulated after one year. And after two years as you can see it will be Rs 1,95,000 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 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 You can share this video with your friends and family members So if you liked this video, then like and share it. If you have any suggestions regarding the video and the channel Then you can comment below. If you haven't subscribed to the channel yet Then subscribe and press the bell icon So that you will get the notification of the latest finance video So let's meet in the next informative video Till then keep learning, keep earning And be happy as always..

Posted in Retiree Tips, Retirement Planning Guide