The God of Wealth has showered her blessings on the employees of State Government.
Yes, the sixth pay commission has increased the salaries . The minimum increase is nearly Rs.5000'-.
How to invest this Rs.5000/- wisely.
A look at the various interest rates offered shows this
Banks savings fund.3.75% Banks fixed deposit 8.75% and GPF 8%
what will be the return if we invest in GPF
suppose if you are 35 at present and probably you may have 25 years of service and if you invest Rs.5000/- + your present subscription you may get around sixty seven lacs at the time of your retirement.
Generally we may calculate at 8% compound interest
The advantages of investing in gpf are
a)safe b)no tax deduction at the time of final payment c)no permission required d)no limit in investing in gpf) e)the option of withdrawing at any time is there
So take out a paper and write a request to increase the subscription immediately
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