EPF / PF Calculator

How EPF contributions work

Employees covered by the EPF scheme contribute 12% of basic salary plus DA every month. The employer also contributes 12%, but it is split: 8.33% goes to the Employees’ Pension Scheme (EPS), calculated on wages up to ₹15,000 a month (a maximum of ₹1,250), and the rest goes to your EPF account. So if your basic is ₹30,000, you contribute ₹3,600 and your employer ₹3,600, of which ₹1,250 goes to EPS and ₹2,350 to EPF.

Interest

EPFO declares the interest rate every financial year. Interest is calculated on the monthly running balance and credited at the end of the year, and it compounds. The calculator uses the rate from our admin config (editable here) and assumes it stays constant.

What the calculator includes

• Your contribution and the employer’s EPF share each month.
• Salary growth each year, which increases contributions.
• Your existing balance, which keeps earning interest.

It does not include your EPS pension. That is a separate monthly pension from age 58, based on pensionable salary and service.

Tax

Your EPF contribution qualifies for 80C in the old regime. Interest is tax-free for the most part, but interest on employee contributions above ₹2.5 lakh a year (₹5 lakh if there is no employer contribution) is taxable. Withdrawals after 5 years of continuous service are generally tax-free.

Increase your retirement savings

You can contribute more through the Voluntary Provident Fund (VPF), which earns the EPF rate. Also compare NPS and PPF. At retirement, you may also receive gratuity. Figures are estimates.

Quick answers

How do I check my EPF balance? Through the EPFO member portal, the UMANG app, or a missed call or SMS to EPFO’s service numbers using your UAN. Can I withdraw EPF before retirement? Partial withdrawals are allowed for purposes like a house, medical needs, education and marriage, subject to service conditions.