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4min chapter
Imagining MERA: My Empowered Retirement Account
Capitalmind Podcast
EPF Contributions
EPF contribution is deductible against ATC, which is 1.5 lakhs per year. If you're investing 12% of your salary, that means if you get a salary of like 1 lakh 20,000 rupees per month,. That's all that is deductible. But guess what? The same limit applies for insurance. So literally this limit has no opportunity for you to have invested more into your own retirement in the longer term. This ELS limit hasn't changed for 10 years because the government doesn't want it. It's a pain to administer. I should say enter pre-tax, don't tax the money on when it comes into your investment"
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