🏦 EPF Calculator
Calculate your Employee Provident Fund (EPF) contributions and maturity amount. Plan your retirement savings with accurate EPF calculations.
Frequently Asked Questions (FAQs)
What is EPF?
EPF (Employee Provident Fund) is a retirement savings scheme in India where both employee and employer contribute 12% of the employee's basic salary each month. The EPF account earns interest (currently around 8% p.a.) and the accumulated amount can be withdrawn at retirement or under specific conditions.
How is EPF contribution calculated?
Both employee and employer contribute 12% of the employee's basic salary + dearness allowance to the EPF account. The employee's entire 12% goes to EPF, while the employer's 12% is split: 8.33% goes to EPS (Employee Pension Scheme) and 3.67% goes to EPF. The total monthly contribution is 24% of basic salary.
What is the current EPF interest rate?
The EPF interest rate for FY 2023-24 is 8.15% per annum. The interest rate is declared annually by the EPFO (Employees' Provident Fund Organisation) and is subject to change. Our calculator uses 8% as a conservative estimate, but you can adjust it based on current rates.
When can I withdraw EPF?
You can withdraw EPF at retirement (58 years), or earlier under specific conditions: after 2 months of unemployment, for medical emergencies, for home purchase/construction, for children's education/marriage, or partial withdrawal after 5 years of service for specific purposes.
Is EPF taxable?
EPF contributions are eligible for tax deduction under Section 80C up to ₹1.5 lakhs. The interest earned is tax-free. EPF withdrawal is tax-free if you've been contributing for 5+ years. If withdrawn before 5 years, it's taxable unless you're unemployed for 2+ months.
Is the EPF calculator free?
Yes, our EPF calculator is completely free to use. No registration or sign-up required. Plan your retirement savings and estimate your EPF maturity amount as many times as you need.
EPF Calculator - Plan Your Retirement Savings
Our free EPF calculator helps you estimate your Employee Provident Fund maturity amount and plan your retirement savings. Calculate monthly contributions, interest earned, and total corpus at retirement.
How to Use the EPF Calculator
- Enter your monthly basic salary
- Set employee and employer contribution percentages (default 12% each)
- Enter your current age and retirement age
- Optionally enter your current EPF balance
- Click "Calculate EPF" to see your estimated maturity amount
Key Features
- Monthly Contribution: See employee and employer contributions separately
- Maturity Estimation: Calculate your EPF corpus at retirement
- Interest Calculation: Estimate interest earned over the years
- Flexible Inputs: Adjust contribution rates and retirement age
- Retirement Planning: Plan your financial future with accurate projections
💡 Pro Tip: EPF is one of the best retirement savings instruments in India with tax benefits under Section 80C. Start contributing early to maximize your retirement corpus through the power of compounding.