EPF Calculator - Employee Provident Fund EPF Calculator
Estimate your EPF (Employee Provident Fund) corpus at retirement. See year-wise growth of contributions and interest earned.
EPF Details
EPF Corpus Estimate
Year-wise EPF Growth
| Year | Opening Balance | Employee | Employer | Interest | Closing Balance |
|---|
EPF Calculator - Guide
What is EPF?
Employee Provident Fund (EPF) is a retirement savings scheme managed by the Employees' Provident Fund Organisation (EPFO). Both employee and employer contribute 12% of basic salary + DA each month. The employer's 12% is split — 3.67% goes to EPF and 8.33% goes to EPS (Employee Pension Scheme, capped at basic salary of 15,000).
How EPF Interest is Calculated
EPF interest is calculated monthly but credited at year-end:
- Monthly contribution = (Employee% + Employer%) × Basic Salary
- Monthly rate = Annual rate / 12
- Interest is computed on running balance each month
- Sum of monthly interest is credited to account at year-end
Tax Benefits of EPF
EPF contributions qualify for tax deduction under Section 80C (up to 1.5 lakh). The interest earned is tax-free if the employee contribution does not exceed 2.5 lakh per year (from FY 2021-22). The entire corpus is tax-free on withdrawal after 5 continuous years of service.
How to Use This Calculator
- Basic Salary + DA: Enter your current monthly basic salary including dearness allowance.
- Current Age & Retirement Age: Enter your present age and desired retirement age.
- EPF Interest Rate: Currently 8.25% for FY 2024-25. Adjust as needed.
- Contributions: Employee 12% and employer 3.67% (EPF portion) are defaults.
- Current Balance: Enter existing EPF balance if any. Leave 0 for fresh start.
- Annual Salary Increase: Expected yearly salary hike percentage.