EPF Calculator Employee Provident Fund
Plan your retirement savings with India's most popular retirement scheme
Calculate your EPF contributions, employer's contributions, and project your retirement corpus. Factor in salary increments and interest to see how your EPF grows over time.
EPF Calculator
Plan your retirement with Employee Provident Fund
💡 Tip: The current EPF interest rate is 8.25% p.a. (FY 2023-24). Adjust the rate based on your expectations.
Understanding EPF (Employee Provident Fund)
What is EPF?
- Mandatory retirement savings scheme for salaried employees in India
- Managed by EPFO (Employees' Provident Fund Organisation)
- Applicable to organizations with 20+ employees
- Provides financial security during retirement
Contribution Structure
- Employee: 12% of basic salary + DA
- Employer: 12% split as 3.67% to EPF + 8.33% to EPS
- Total EPF contribution: ~15.67% of basic salary
- Voluntary higher contribution allowed (VPF)
Key Benefits
- Tax Benefits: EEE status - Exempt at contribution, accumulation, and withdrawal
- Higher Interest: Currently 8.25% p.a., better than savings accounts
- Employer Match: Employer contributes equal amount
- Loan Facility: Can avail loans for housing, education, medical emergencies
Withdrawal Rules
- At Retirement: Full withdrawal allowed at age 58
- Before Retirement: Partial withdrawals allowed for specific purposes
- Job Change: Transfer EPF to new employer or withdraw after 2 months
- Online Access: Check balance and withdraw through EPFO portal
Important Notes
- This calculator provides estimates. Actual EPF balance may vary based on policy changes and actual salary increments.
- EPF interest rates are revised annually by the government. Current rate is 8.25% (FY 2023-24).
- For official EPF balance and passbook, visit the EPFO portal at www.epfindia.gov.in
- Contributions above ₹2.5 lakh per annum are taxable from FY 2021-22 onwards.
Why Our EPF Calculator Stands Out
Complete Contribution Tracking
Calculate both employee and employer contributions accurately. See complete breakdown of EPF (12%) and EPS (8.33%) components for retirement planning.
Salary Increment Modeling
Factor in annual salary increments to get realistic projections. See how your EPF corpus grows with your career progression over decades.
Current EPFO Rates
Pre-loaded with current EPF interest rates (8.25% for FY 2023-24) and contribution structure as per Indian regulations. Stay updated with latest rules.
How to Use the EPF Calculator
Enter Your Current Salary Details
Input your monthly basic salary plus dearness allowance (DA). EPF is calculated on basic + DA, not your total CTC. Check your salary slip for accurate figures.
Set Your Age and Retirement Age
Enter your current age and expected retirement age (typically 58-60). The calculator will determine your investment tenure and project accordingly.
Input Growth Parameters
Enter your expected annual salary increment percentage and EPF interest rate (current: 8.25%). Be realistic - average increments are 8-12% in most sectors.
View Your Retirement Corpus
See your projected EPF balance at retirement, total contributions, and interest earned. Use this to plan your retirement lifestyle and additional savings needs.
Frequently Asked Questions
How is EPF contribution calculated?
Employee contributes 12% of basic salary + DA. Employer contributes 12%, split as: 3.67% to EPF and 8.33% to EPS (Pension Scheme). So effectively, 15.67% of your basic salary goes to EPF, while 8.33% goes to pension. On ₹30,000 basic, you contribute ₹3,600 and employer adds ₹3,600 (₹1,101 to EPF + ₹2,499 to EPS).
What is the current EPF interest rate?
The current EPF interest rate is 8.25% per annum (FY 2023-24), decided by the EPFO and government annually. This rate is typically higher than bank FD rates and is tax-free, making EPF one of the best retirement savings options. The rate has ranged between 8.1-8.65% in recent years.
Can I withdraw EPF before retirement?
Partial withdrawals are allowed for specific purposes: home purchase/construction, medical emergencies, marriage, education (after 7 years of service). Full withdrawal is possible after 2 months of unemployment or at age 58. However, withdrawals before 5 years of continuous service attract tax and reduce your retirement corpus.
Is EPF completely tax-free?
EPF follows EEE (Exempt-Exempt-Exempt) status: contributions are tax-deductible under Section 80C (up to ₹1.5 lakh), interest earned is tax-free, and withdrawals after 5 years are tax-free. However, from FY 2021-22, interest on contributions exceeding ₹2.5 lakh per year is taxable.
What happens to EPF when changing jobs?
You can transfer your EPF to your new employer using UAN (Universal Account Number). The transfer is seamless and maintains your service continuity. Alternatively, if unemployed for 2+ months, you can withdraw. It's recommended to transfer rather than withdraw to maintain tax benefits and continue building your retirement corpus.
How can I check my EPF balance online?
Check your EPF balance via: (1) UMANG app - download and register with UAN, (2) EPF Member Portal at epfindia.gov.in using UAN/Aadhaar, (3) SMS by sending "EPFOHO UAN" to 7738299899, or (4) Missed call to 9966044425. You'll need your UAN (Universal Account Number) activated and linked to Aadhaar and mobile number.