EPF Calculator
Calculate Employee Provident Fund maturity with 8.25% interest rate. 12% employee + 3.67% employer contribution to PF.
EPF Details
₹
Basic salary + Dearness Allowance%
Fixed at 12% of Basic + DA₹
Existing PF balance (if any)years
%
Current: 8.25% (FY 2023-24)💼
Enter EPF details
About EPF (Employee Provident Fund)
EPF is a mandatory retirement savings scheme for salaried employees earning up to ₹15,000/month (voluntary above that). Both employee and employer contribute monthly.
Contribution Structure
- Employee: 12% of Basic + DA (mandatory)
- Employer: 12% of Basic + DA split as:
- 3.67% → Employee Provident Fund (EPF)
- 8.33% → Employee Pension Scheme (EPS) - max ₹1,250/month
- Total to PF: Employee 12% + Employer 3.67% = 15.67%
Key Features
- Interest Rate: 8.25% p.a. (FY 2023-24, announced yearly)
- Compounding: Monthly compounding, credited annually
- Tax Benefit: EEE status (contributions, interest, withdrawal all tax-free)
- Lock-in: Till retirement (58 years) or job change
- Withdrawal: Full withdrawal on retirement/unemployment (60 days)
- Partial Withdrawal: Allowed for medical, education, home purchase
EPF vs EPS
- EPF (Provident Fund): Lumpsum corpus at retirement
- EPS (Pension Scheme): Monthly pension after 58 years (min 10 years service)
- EPS contribution capped at ₹15,000 basic (₹1,250/month max)
- EPS pension = (Pensionable salary × Service years) ÷ 70
Withdrawal Rules
- Full Withdrawal: After 2 months unemployment or at 58 years
- 75% Withdrawal: After 1 month unemployment
- Partial Withdrawal:
- Medical emergency (self/family)
- Home purchase/construction (after 5 years)
- Child marriage/education (after 7 years)
- Home loan repayment (after 10 years)
Tax Implications
- Contributions: Tax deduction under 80C (up to ₹1.5L)
- Interest: Tax-free (but taxable if > ₹2.5L annual contribution post Apr 2021)
- Withdrawal: Tax-free after 5 years continuous service
- Before 5 years: Taxable as salary income
Transfer & Portability
- UAN (Universal Account Number) links all PF accounts
- Auto-transfer on job change via UAN
- Online claims via EPFO portal (no employer approval needed)
EPF vs VPF
- EPF: Mandatory 12% contribution
- VPF (Voluntary PF): Additional contribution beyond 12% (max 100% of Basic)
- VPF earns same 8.25% interest
- VPF also gets 80C benefit (combined ₹1.5L limit)
When EPF Makes Sense
- Guaranteed 8.25% returns (better than FD, comparable to PPF)
- Employer's 3.67% is FREE money (instant 30% return on your 12%)
- Tax-free returns (effective return ~10-11% in 30% tax bracket)
- Forced savings for retirement