EPF Calculator

If you work in the organized sector, Let’s assume the private sector, then most private sector employees are eligible to earn post-retirement benefits. Remember that government personnel are also eligible for pensions in contrast to your private sector counterparts. Following the passage of the EPF Act in Parliament, the Employee Provident Fund was established.

The Employees Provident Fund Organization of India, often known as EFPO, is legally in charge of the money that both employers and employees put in a permanent account that a Unique Account Number, or UAN identifies. You can make accurate savings estimates with the use of an EPF calculator.

Every time you enter data, the PF calculator retrieves the right amount using patented technology. The Provident Fund serves as a safeguard against potential job loss or prosperity and is very helpful when making financial decisions in the future.

In line with government guidelines, Rahul Pawar’s EPF contributions come from both his contribution (12% of basic salary) and his employer’s (3.67%). 

Let’s assume, for a salary of ₹ 20,000, this totals ₹ 3,134 monthly. Interest is compounded monthly at 0.6875%, totaling 8.25% annually. For example, a ₹ 6,268 balance in month two earns ₹ 43.07 interest. These contributions and interest grow Rahul’s savings throughout the year.
 

The employee deposits 12% of their base salary and Dearness Allowance into the EPF account each month. For example, the employee contribution would be 12% of ₹20,000, or ₹2400, if the base monthly income was ₹20,000 (assuming no dearness allowance).

The employer allocates 8.33% out of their 12% contribution to the Employee Pension Scheme, while the remaining 3.67% goes toward the EPF. Thus, if the basic pay is ₹22,000, the employer contributes ₹807 (3.67% of ₹22,000) to the EPF.

Therefore, for a person earning ₹22,000 monthly, the combined employee and employer contributions to the EPF account would amount to ₹3,447.
 

The EPF interest rate for 2022-23 is 8.1%, set annually by the EPFO and reviewed by the finance ministry. Interest is calculated monthly and added at the year’s end. For example, after two contributions of ₹3134, a balance of ₹6268 earns monthly interest at 0.675% (8.1% annual rate), resulting in ₹42.30 in the second month.

• Avoid manual calculations; total contributions are automatically computed each time.
• Our online PF calculator ensures accurate and reliable results.
• Adjustments in interest rates or contribution ratios are automatically reflected, saving you time.
• Stay updated on transactions, contributions, and any changes.
• For instance, if the EPF interest rate of 8.15% changes during the year, you'll be notified upon logging in.
• The PF calculation formula helps determine both employee and employer contributions to your provident fund each month.