Question

How does our contribution given effects?

Answer 1

Answer:

$<font color= "red">$Hey mate answer of your question is given below by me..

Explanation:

For example, if the monthly basic salary is Rs 30,000, the employee contribution towards his or her EPF would be Rs 3,600 a month (12 percent of basic pay), while the equal amount is contributed by the employer each month. If the contribution rate is reduced to 10 percent, Rs 3,000 a month becomes the PF contribution by employee and the take-home pay will increase by Rs 600.

If these savings are invested diligently, even small amounts can reap big rewards. Let us say you divert this amount every month towards mutual funds, assuming a growth rate of 12 percent, the corpus is nearly Rs 20 lakh after 30 years of job.

I hope it can help you...