EPF Calculator
Calculate your Employee Provident Fund corpus at retirement with employer contribution, interest, and salary growth
EPF Calculator
📖 Guide8.33% goes to EPS, 3.67% to EPF
Current EPF rate: 8.25% p.a. (FY 2023-24)
Formula: Closing = Opening + Employee Contrib + Employer EPF Contrib (3.67%) + Interest
Salary increases annually. Interest computed on (Opening + Yearly Contributions).
Understanding EPF
What is EPF?
The Employee Provident Fund (EPF) is a retirement savings scheme managed by the EPFO. Both employee and employer contribute 12% of basic salary + DA each month. The employer's 12% is split: 8.33% goes to EPS (Employee Pension Scheme) and 3.67% goes to EPF.
EPF Interest Rate
The EPF interest rate is declared annually by the EPFO. For FY 2023-24, the rate is 8.25% p.a. Interest is calculated monthly but credited at the end of the financial year. The rate has historically ranged from 8.1% to 8.65% over the past decade.
EPF Tax Benefits
Employee EPF contributions qualify for tax deduction under Section 80C (up to ₹1.5 lakh). Interest earned is tax-free if the employee contributes for 5+ continuous years. Withdrawals after 5 years of continuous service are fully exempt from income tax.