Login to Internet banking
A brand-new experience - smarter, faster, and secured
Introducing the First-in-industry IDFC FIRST Bank's Super Account
Request a Callback
You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
Know More- Account with Auto-Sweep FD
- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
- Accounts for Trusts/Associations/Societies/Clubs
- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
Know More
Streamline your export process with digital convenience with IDFC FIRST Bank's Export Solutions
Know More
Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
Know More
Most Searched
Enjoy Zero Charges on All Commonly Used Savings Account Services
Open Account Now
Download our app
Get instant help for all your queries in one place
Explore Personal
- Accounts
Tools & Calculators
Privilege Program
- Privilege Program
Unlock features, exclusively available
only on the IDFC FIRST Bank app
FinFIRST Blogs
Retirement Planning – How EPFO Helps Secure Long-Term Financial Stability
Key Takeaways
The EPFO helps salaried employees build a secure retirement fund through consistent contributions and compounded, tax-free interest.
- Beyond savings, EPFO provides a comprehensive safety net including a pension scheme, life insurance, and a provident fund.
- Avoid early withdrawals to maximize growth, and use tools like IDFC FIRST Bank’s app to monitor and manage your retirement savings effectively.
When we think about retirement, most of us picture a relaxed, stress-free life. But to turn that vision into reality, financial stability is key and that’s exactly where the Employees' Provident Fund Organisation (EPFO) steps in.
The EPFO is a government-backed body that manages the Provident Fund (PF) for millions of salaried employees in India. Its main goal? To help you build a secure and dependable retirement corpus.
READ MORE
EPFO: Your silent retirement builder
Many see the EPF deduction on their salary slip as just another cut, but it’s far from that. Every month, 12% of your salary goes into your EPF account, and your employer matches this with another 12%. This amount earns tax-free, compounded interest (currently around 8.25% p.a.), which can grow significantly over time.
Let’s break it down:
If you consistently contribute over a career span of 25–30 years, your corpus can multiply thanks to the power of compounding. The trick? Patience and consistency.
More than just savings
The EPFO isn't just about building savings. It offers a three-layered safety net to protect your future:
Employees’ Pension Scheme (EPS):
Employees' Deposit Linked Insurance (EDLI):
Employees’ Provident Fund (EPF):
Offers a monthly pension after retirement, giving you a steady income for life.
Provides life insurance up to ₹7 lakh to your nominee without you paying a separate premium.
A growing, tax-free retirement fund that you can access once you retire.
Together, these benefits ensure that you’re not just saving, but planning smartly for your retirement.
Pro tip: Let it grow
It might be tempting to withdraw from your EPF for big expenses. But unless absolutely necessary, try to avoid early withdrawals. The longer your money stays invested, the more it grows. Time and compounding are your best allies.
Stay in control with IDFC FIRST Bank
Want to keep track of your EPF contributions and interest? With IDFC FIRST Bank’s mobile app, you can check your EPF balance, view your passbook, and track your retirement savings—all in one place, in real-time.
Retirement might seem far away, but the earlier you plan, the smoother your journey. With EPFO, you’re not just saving—you’re securing your future with stability, safety, and peace of mind.
Start now, stay consistent, and let your EPF grow into your retirement cushion.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.
Summarize with AI
