An emergency fund is a financial safety net for future mishaps and/or unexpected expenses. Emergency funds should typically have three to six months' worth of expenses. Individuals should keep their emergency funds in accounts that are easily accessible and easily liquidated.

The size of the emergency fund depends mainly on your expenses and not income.
Also, the size of the corpus will vary from person to person. Someone with higher financial obligations such as kids and loans may have to save more than someone without any financial obligations.
Also, it depends on how you want to build your emergency fund.
Do you want to make it a bare-bones fund that will only suffice the basic essentials or do you want to include occasional treats as well?
There is no one answer that will fit all. So, you will need to consider your circumstances and build an emergency fund

Most experts believe you should have enough money in your emergency fund to cover at least 3 to 6 months' worth of living expenses.
Emergency fund should be parked in saving bank account, fixed deposit account or liquid mutual funds.

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