EPF Calculator
The EPF (Employees' Provident Fund) Calculator helps you estimate the total corpus you will accumulate in your EPF account by retirement. EPF is a retirement savings scheme in India where both the employee and employer contribute 12% of the basic salary each month. The government pays interest on this amount (currently 8.25% for 2024-25). This calculator factors in your current age, monthly salary, expected salary growth, and retirement age to project your EPF corpus. Understanding your EPF growth is important for retirement planning in India.
Formula
Monthly EPF = (Basic Salary × 12%) + (Basic Salary × 3.67%) Interest = (Running Balance × Annual Rate) ÷ 12 Total Corpus = Sum of all contributions + accumulated interest
Example
If your basic salary is ₹50,000, current EPF balance is ₹5,00,000, and you have 20 years to retirement: Monthly contribution = ₹50,000 × 12% + ₹50,000 × 3.67% = ₹7,835 Annual contribution = ₹7,835 × 12 = ₹94,020 With 8.25% interest over 20 years, the corpus grows to approximately ₹50,00,000 + future contributions + interest ≈ ₹80,00,000+
How to Use
- Enter your current age and retirement age
- Input your monthly basic salary and expected annual salary hike
- Enter your current EPF balance (if any)
- The calculator shows your monthly and annual contributions
- Review your projected EPF corpus at retirement
Frequently Asked Questions
What is EPF and who is eligible?
EPF (Employees' Provident Fund) is a mandatory retirement savings scheme in India for employees earning up to ₹15,000 per month in organizations with 20+ employees. Both employee and employer contribute 12% of basic salary.
What is the current EPF interest rate?
The EPF interest rate for the financial year 2024-25 is 8.25%. The rate is set annually by the government and is tax-free for the employee.
How is EPF different from PPF?
EPF is for salaried employees with employer contributions, while PPF is a voluntary savings scheme open to all Indian citizens. EPF has a higher contribution limit, while PPF has a ₹1.5 lakh annual limit and 15-year lock-in.
Can I withdraw my EPF before retirement?
Yes, partial withdrawals are allowed for specific purposes like home purchase, medical emergencies, or education. Full withdrawal is allowed at retirement (age 55) or if unemployed for 2+ months.
Is EPF taxable?
EPF contributions are tax-deductible under Section 80C. Interest earned is tax-free. Withdrawals after 5 years of continuous service are tax-free. Early withdrawals (before 5 years) are taxable.