The EPF of employee provident fund has a lot of things that can surprise you. If you are still wondering about some of the terms that are in use out in the market then we are here to help you out with them. The things that are connected with EPF are the funds, ROI and many more things with epfo member login.
Well, if you are wondering about the annuity in employee provident fund then this guide can help you out in the best way possible. Make sure that you read all the things that are mentioned in the section below. Take a note on all of them and it will surely help you out in the best way possible.
What is EPF annuity and why you need one?
Annuity in EPF is related to the Insurance companies and the company agrees to provide the steam of income for anyone in life. This will include the lump sum payment that you have collcted as your EPF throughout the years of working in the industry.
In order to get a annuity plan, you might have to pay for an insurance company a lump sum premium just before the retirement. This will help you out with the payment plans easily after your retirement and this will surely help you to lead a healthy life after epfo member portal.
On what basis do the Amount of Right EPFO Annuity Depends?
The amount of income that you will receive will depend on your –
- The amount you pay to purchase the annuity will play an important role in choosing up the right annuity.
- Your age and your gender also varies among the payment and this thing seems important when it comes to
- The plan that you choose as per your company requirements or as per your pay basis.