EPF Calculator
Calculate your Employee Provident Fund (EPF) corpus at retirement. Plan your retirement with our accurate EPF Calculator.
EPF Details
Accumulated Corpus
Total Amount at Retirement
₹0
How EPF Works
Both the employee and employer contribute 12% of the basic salary plus DA to the EPF account.
- Employee’s Share: Entire 12% goes to EPF.
- Employer’s Share: 3.67% goes to EPF and 8.33% goes to the Employee’s Pension Scheme (EPS) (capped at ₹15,000 wage ceiling).
Benefits of EPF
- Tax Saving: Contributions qualify for Section 80C deduction.
- Retirement Corpus: Forces disciplined savings for old age.
- Insurance: Comes with EDLI (Employee Deposit Linked Insurance) cover up to ₹7 Lakhs.
- Pension: The EPS component provides a monthly pension after the age of 58.
Power of Compound Interest
EPF is one of the best debt instruments for long-term wealth creation because the interest is compounded annually and the returns are tax-free (subject to conditions). Even small contributions can grow into a massive corpus over 20-30 years.
Frequently Asked Questions
What is EPF?
Employee Provident Fund (EPF) is a retirement benefit scheme available to all salaried employees in India. It is managed by the EPFO and offers a high, tax-free interest rate.
What is the current EPF interest rate?
The interest rate is decided by EPFO annually. For FY 2023-24, the interest rate was 8.25%. It historically ensures a return higher than inflation.
When can I withdraw my EPF?
You can withdraw your full EPF corpus upon retirement (age 58) or if you remain unemployed for 2 months. Partial withdrawals are allowed for specific purposes like marriage, medical emergencies, or house purchase after a certain service period.
What is UAN?
Universal Account Number (UAN) is a 12-digit unique number allotted to every employee contributing to EPF. It remains the same throughout your career, even if you change jobs.
Is EPF mandatory?
Yes, for organizations employing 20 or more people, EPF is mandatory for employees earning a basic salary up to ₹15,000. However, most companies cover all employees regardless of salary.
Is the EPF interest taxable?
EPF interest is tax-free if the employee's contribution is up to ₹2.5 Lakhs per year. Any interest earned on contributions above this limit is taxable.
Can I opt out of EPF?
If your basic salary is above ₹15,000 and you have never been part of EPF before, you can technically opt out at the start of your job (if the employer allows). Once you join, you cannot opt out.
What happens to EPF when I change jobs?
When you change jobs, you should transfer your EPF account to the new employer using your UAN. Do not withdraw it, as continuous service of 5 years makes the withdrawal tax-free.
What is VPF?
Voluntary Provident Fund (VPF) allows employees to contribute more than the mandatory 12% to their PF account. The interest rate remains the same as EPF.
How to check EPF balance?
You can check your balance via the UMANG App, EPFO Portal, or by sending an SMS/Missed Call to the designated EPFO numbers.