About EPF Calculator
The Employee Provident Fund (EPF) is a retirement savings scheme mandatory for employees earning up to ₹15,000/month in organisations with 20+ employees. Both employee and employer contribute 12% of Basic+DA monthly. Employer contribution is split: 3.67% to EPF and 8.33% to EPS (Employee Pension Scheme).
Current EPF interest rate is 8.25% per annum (FY 2023-24), one of the best risk-free returns available in India. EPF withdrawals after 5 years of service are tax-free. This calculator estimates your EPF corpus at retirement (age 58).
Frequently Asked Questions
What is the current EPF interest rate?+
The EPF interest rate for FY 2023-24 is 8.25% per annum, as declared by the EPFO (Employees Provident Fund Organisation). The rate is reviewed and announced annually by the EPFO.
How is employer EPF contribution calculated?+
Employer contributes 12% of Basic+DA. However, 8.33% goes to EPS (Employee Pension Scheme, capped at ₹1,250/month) and only 3.67% goes to your EPF account. This calculator shows the portion going to EPF.
When can I withdraw EPF?+
Full withdrawal is allowed at retirement (age 58) or after 2 months of unemployment. Partial withdrawal is allowed for specific purposes like medical emergency, home purchase, marriage, education (conditions apply). After 5 years, withdrawals are tax-free.
Is EPF compulsory?+
EPF is mandatory for employees earning up to ₹15,000/month in companies with 20 or more employees. Employees earning above ₹15,000 can opt in voluntarily. Both employee and employer must contribute.