Employee Provident Fund (EPF) Calculator
Calculate your EPF corpus with employee and employer contributions. Plan your retirement with detailed breakdown and visual charts.
Employee Provident Fund (EPF) Calculator
About This Calculator
Employee Provident Fund (EPF) is a retirement savings scheme where both employee and employer contribute 12% of the basic salary. The fund earns interest and provides a lump sum at retirement.
Our EPF calculator helps you estimate your retirement corpus based on your current salary, age, and expected retirement age. It includes both employee and employer contributions.
EPF Key Features:
- Contribution Rate: 12% employee + 12% employer
- Interest Rate: Currently 8.15% per annum
- Tax Benefits: Employee contribution eligible for 80C deduction
- Withdrawal: Partial withdrawal allowed after 5 years
- Loan Facility: Available for specific purposes
EPF Benefits:
- Guaranteed Returns: Government-backed interest rates
- Tax-free Maturity: No tax on withdrawal after 5 years
- Employer Contribution: Additional 12% from employer
- Nomination: Facility to nominate beneficiaries
- Portability: Transferable between jobs
Features:
- Calculate EPF corpus at retirement
- Separate employee and employer contribution tracking
- Visual growth chart over time
- Yearly breakdown analysis
- Shareable calculation links
Frequently Asked Questions
What is EPF?
EPF (Employees' Provident Fund) is a retirement savings scheme for salaried employees in India. Both employee and employer contribute 12% of the basic salary each month to the EPF account. The fund earns interest (currently 8.15%) and accumulates as a lump sum for retirement. It is managed by the Employees' Provident Fund Organisation (EPFO).
Who is eligible for EPF?
All employees earning a basic salary of up to ₹15,000 per month are mandatorily covered under EPF. Employees earning above ₹15,000 can voluntarily opt for EPF with employer consent. The scheme applies to both private and public sector organizations with 20 or more employees.
What is the current EPF interest rate?
The current EPF interest rate is 8.15% per annum for FY 2023-24. The government declares the interest rate annually, and it is reviewed by the Ministry of Finance based on market conditions. Interest is calculated monthly on the accumulated balance and credited to the account at the end of the financial year.
How much is deducted from salary for EPF?
12% of your basic salary is deducted as your EPF contribution. Your employer also contributes an equal 12%, but typically 3.67% goes to EPF and 8.33% goes to EPS (Employee Pension Scheme). If your basic salary exceeds ₹15,000, you can opt to contribute on the full basic salary or capped at ₹15,000.
Is EPF maturity amount taxable?
EPF maturity is tax-free if you have completed 5 years of continuous service. If withdrawn before 5 years, the amount becomes taxable as "Income from Other Sources" and TDS at 10% is deducted if the amount exceeds ₹50,000. The tax exemption makes EPF an attractive retirement savings instrument.
Can I withdraw EPF before retirement?
Yes, partial withdrawal is allowed for specific purposes like medical emergencies, home purchase/construction, marriage, or education after 5-7 years of service. Full withdrawal is permitted if you're unemployed for more than 2 months. You can also withdraw for COVID-19 related expenses under special provisions.
How to check EPF balance?
You can check your EPF balance through: 1) UMANG app, 2) EPFO portal (passbook.epfindia.gov.in), 3) SMS service by sending "EPFOHO UAN ENG" to 7738299899, 4) Missed call to 011-22901406 from registered mobile. You'll need your UAN (Universal Account Number) and registered mobile number to access your balance.
What is UAN in EPF?
UAN (Universal Account Number) is a unique 12-digit number assigned to every EPF member by EPFO. It remains the same throughout your career, even when you change jobs. UAN helps consolidate multiple PF accounts and makes balance tracking and withdrawals easier. You must activate your UAN to access online services.
Can I transfer EPF when changing jobs?
Yes, EPF is fully transferable when you change jobs. You need to provide your UAN to your new employer, who will link your existing PF account. You can also initiate transfer online through the EPFO portal using Form 13. Online transfer is now seamless and usually completed within 7-20 days.
What is EPS in EPF?
EPS (Employee Pension Scheme) is part of the EPF where 8.33% of the employer's 12% contribution goes to provide you a monthly pension after retirement at age 58. The maximum pensionable salary is capped at ₹15,000. If you have completed 10 years of service, you're eligible for a monthly pension under EPS-95 scheme.