People have always known the importance of saving with the aim of the future. It can be for retiring, for a major purchase, or to save for the future of your family, and there are ways in which one can make the right decisions. Some of the tools that are quite useful for this purpose include the public provident fund calculator. It is intended to help you make calculations and to be able to forecast savings that you are going to achieve in the future with high precision. In this article, the user will be taken through how to use the PPF calculator. This article will also give a brief highlight on the EPF calculator, especially for savings-planning individuals.
An Insight on Public Provident Fund Calculator
A public provident fund calculator is an online application which of course help us to calculate the maturity amount as well as the interest amount based on the PPF investments. With it, one can estimate whether a specific portfolio of investment will amount to in two years, at a specific rate and when making regular contributions.
Any individual who wishes to act prudently about their PPF must use a calculator in this case. It makes it easy to adjust it for regular contributions and compound interest, which gives an accurate picture of the potential amount of money you will have readily available by the time the PPF matures.
Advantages related to a PPF Calculator
Using a PPF calculator offers many benefits, including:
- Easy to Use: The tool is relatively easy and does not necessarily involve any knowledge of finance. You only need to fill in the important parameters, which are your annual contribution, your years of service, and the current PPF interest rate, and the calculator will help you estimate your balance.
- Accurate Estimation: The calculator is quite useful as it shows the true picture of how much money can be saved in the future and thus realistic goals can be set.
- No Guesswork: What makes the PPF calculator unique is the fact that it does not leave room for guesswork by factoring in the inputs to give an exact value of the PPF.
The EPF Calculator
Similar to the PPF calculator, the EPF calculator stands developed for the employees who contribute to the Employees’ Provident Fund. It assists you in identifying the amount you and your employer have invested over the years and the corpus you were going to get during your retired life. The EPF calculator is rather useful, especially if one wishes to retire by a certain age since you get to see how much you are set to receive depending on the current salary and contribution.
Conclusion
All in all, the Public Provident Fund calculator is beneficial for anyone who wants to plan for his or her future. In regards to evaluating the potential of your investment, it makes it less complex to determine the savings you are likely to affect or project your investment growth in the future accurately. Likewise, the epf calculator assists you in planning for retirement as it provides a lucid way of how much one saves.
That is why such tools are necessary when making decisions about our financial future. Even in the case of such basic options, ‘input boxes’ for various parameters are available on platforms such as 5paisa to help you in your journey to a financially secure life.
