EPF Calculator
The Employee Provident Fund (EPF) is a mandatory retirement savings scheme for salaried employees in India. Both employee (12% of basic) and employer (3.67% of basic to EPF) contribute monthly. This calculator shows your projected EPF corpus at retirement, accounting for compounding interest.
Frequently Asked Questions
How is EPF interest calculated?+
EPF interest is calculated on the monthly running balance and credited at the end of the financial year. The interest rate is declared annually by the EPFO (Central Board of Trustees) — it was 8.25% for FY 2023-24. Interest earned in EPF is tax-free if you have served at least 5 continuous years.
What is the difference between EPF and EPS?+
Of the employer's 12% contribution: 8.33% goes to EPS (Employee Pension Scheme — capped at ₹1,250/month based on ₹15,000 ceiling), and 3.67% goes to EPF. The employee's full 12% goes to EPF. EPS provides a monthly pension after retirement; EPF provides a lump sum corpus.
When can I withdraw my EPF?+
Full withdrawal: at retirement (age 58), or if unemployed for 2 months. Partial withdrawal: allowed for specific purposes — home purchase (after 5 years), marriage (after 7 years), illness (anytime), education, and home loan repayment, subject to limits.
Is EPF withdrawal taxable?+
EPF withdrawal is tax-free after 5 years of continuous service. If withdrawn before 5 years, TDS at 10% applies on the amount (if PAN is provided; 30% if not). If you transfer PF when changing jobs, the service continuity is maintained and no tax applies.