EPF Calculator — Employee Provident Fund
Calculate your EPF corpus at retirement. See monthly contributions, employer match, interest earned, and maturity amount.
| Component | Amount |
|---|---|
| Total Employee Contribution | |
| Total Employer Contribution (PF only) | |
| Total Interest Earned | |
| Years to Retirement | |
| Monthly Contribution (current) |
Frequently Asked Questions
The EPF interest rate for 2023-24 is 8.25% per annum, announced by EPFO. This rate is declared annually by the government and is tax-free. The interest is calculated monthly but credited annually.
Employers contribute 12% of your basic salary + DA: 8.33% goes to EPS (Employee Pension Scheme, capped at ₹15,000 basic) and 3.67% goes to your EPF account. Employees also contribute 12% — so total monthly contribution is 24% of basic+DA.
Yes, with conditions: partial withdrawal is allowed for medical emergency, marriage, education, home purchase, or home renovation. Full withdrawal is allowed after 2 months of unemployment or at retirement (age 58). Tax applies if withdrawn before 5 years of continuous service.
EPF contributions above ₹2.5 lakh/year (employee's own contribution) attract tax on interest earned on the excess. Below ₹2.5 lakh, EPF is EEE (Exempt-Exempt-Exempt) — contributions, interest, and maturity are all tax-free.
About this calculator
The Employees' Provident Fund is a retirement scheme in which you and your employer each put in 12% of basic salary and dearness allowance every month. The balance earns a government-notified rate of interest, currently around 8.25%, and the entire corpus can be withdrawn tax-free after five years of continuous service.
This calculator projects your EPF corpus at retirement. Enter your basic salary, expected yearly increment, current age, retirement age, contribution rate, the interest rate and any existing balance. It also shows your monthly contribution and your employer's share, with the EPS portion removed, so the numbers match what actually reaches your EPF account.
How to use it
- Enter your Basic Salary + DA per month.
- Enter your expected Annual Salary Increment.
- Enter your Current Age and Retirement Age.
- Check the Employee Contribution (12%), the EPF Interest Rate and the Employer's EPS share (8.33%).
- Enter any Current EPF Balance and press Calculate EPF Maturity.
How the corpus is calculated
Each month your contribution is 12% × (Basic + DA). Your employer also pays 12%, but 8.33% of it goes to the Employees' Pension Scheme, calculated on a wage ceiling of ₹15,000 (a maximum of ₹1,250 a month), and the rest goes to your EPF. The balance earns interest at the rate declared by EPFO, calculated monthly and credited yearly: Balance = (Balance + Employee share + Employer EPF share) × (1 + rate ÷ 12) each month. Salary growth is applied once a year.
Worked example
Basic + DA ₹15,000 a month, no salary growth, age 30 to 58, 8.25% interest
| Your contributions (28 years) | ₹6,04,800 |
| Employer's EPF share | ₹1,84,968 |
| Interest earned | ₹23,06,720 |
| EPF corpus at 58 | ₹30,96,488 |
Interest supplies about three quarters of the corpus. That is the compounding effect over 28 years, and the reason that starting early matters more than contributing more. The pension portion paid into EPS is separate and not included.
Tips and common mistakes
- Check your passbook on the EPFO member portal each year to confirm that the interest has been credited.
- Interest on your own contributions above ₹2.5 lakh a year (₹5 lakh if your employer does not contribute) is taxable.
- Withdrawing EPF before five years of continuous service attracts tax, and TDS of 10% if the amount is over ₹50,000.
- Do not withdraw EPF when you change jobs. Transfer it so that the service stays continuous and the corpus compounds.
- Voluntary PF lets you put in more than 12% of basic at the same rate, but the tax rule on the ₹2.5 lakh limit applies.
Frequently asked questions
What is the EPF interest rate?
EPFO declares it each year. It has been 8.25% in recent years. Enter the latest declared rate in the calculator.
How much does the employer contribute?
12% of basic plus DA, of which 8.33% (capped at ₹1,250 a month) goes to the pension scheme and the remainder to your EPF.
Is EPF maturity tax-free?
Yes, if you have completed five years of continuous service. Interest on contributions above the yearly limit is taxable.
When can I withdraw EPF?
On retirement at 58, after unemployment for a period, or for specific purposes such as a home or medical need, subject to EPFO rules.
Is the pension portion included?
No. The EPS contribution funds a monthly pension and is not part of the EPF corpus.
Is the interest compounded monthly?
Interest is computed monthly on the running balance and credited at the end of the financial year. The calculator applies it monthly, which is a close approximation.