EPF Calculator
Calculate your EPF corpus at retirement with employee and employer contributions and interest.
EPF calculator computes your Employee Provident Fund corpus at retirement. Enter monthly basic salary, years to retirement, and expected annual salary hike. The tool applies the current EPF interest rate of 8.25% p.a. and shows employee contribution at 12%, employer EPF contribution at 3.67%, total interest earned, and the final corpus. A year-by-year table shows how the balance grows. Free, no signup required.
Employee contribution: 12% of basic salary per month
Employer EPF contribution: 3.67% of basic salary per month
EPF interest rate: 8.25% p.a. (FY 2023-24), compounded monthly
EPF Corpus at Retirement
₹53.56 L
after 20 years at 8.25%
EPF interest rate is declared by the EPFO each year and may change. Current rate: 8.25% p.a. (FY 2023-24). EPS contribution of 8.33% is not included in the EPF corpus.
Frequently Asked Questions
- How is EPF calculated?
- The employee contributes 12% of basic salary each month. The employer contributes 12% total, but only 3.67% goes to EPF. The remaining 8.33% goes to EPS (pension). Monthly interest of 8.25% p.a. (0.6875% per month) applies on the running balance. The balance at retirement is the sum of all contributions plus compounded interest.
- What is the EPF interest rate for FY 2023-24?
- The EPFO declared 8.25% p.a. for FY 2023-24, the highest rate in three years. Interest is compounded monthly and credited at the end of each financial year. The rate is announced by the EPFO central board and notified by the Ministry of Finance. Past rates: 8.10% for FY 2022-23 and 8.50% for FY 2021-22.
- What is the EPF maturity amount for ₹30,000 basic salary for 30 years?
- At ₹30,000 basic salary with no hike and 8.25% interest for 30 years, the EPF corpus is approximately ₹1.38 crore. Total employee contribution is around ₹12.96 lakh, employer EPF contribution around ₹3.97 lakh, and interest earned makes up the rest. With an 8% annual hike, the corpus grows to roughly ₹5.5 crore.
- Can I withdraw EPF before retirement?
- Partial EPF withdrawal is allowed after 5 years for home purchase, medical treatment, marriage, and education. Home purchase allows up to 24 months of basic salary. Marriage and education allow up to 50% of the employee share. Full withdrawal is permitted on retirement at 58, on unemployment for 2 or more months, or on permanent disability.
- Is EPF interest taxable?
- EPF interest is tax-free for private sector employees contributing up to ₹2.5 lakh per year. Government employees get a higher limit of ₹5 lakh. Interest on contributions above those limits is taxable as other income. Employer contributions above ₹7.5 lakh per year are taxable as a perquisite.
- What happens to EPF if I change jobs?
- EPF follows you when you change jobs. Transfer your EPF account using the UAN (Universal Account Number) on the EPFO member portal. The balance earns 8.25% interest during the transfer period. Do not withdraw EPF on job change: withdrawal before 5 years of service makes the employer's contribution and interest taxable.
What is EPF Calculator?
EPF calculator computes the Employee Provident Fund corpus you will accumulate by retirement. EPF is a mandatory retirement savings scheme. The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 governs it. Every organisation with 20 or more employees must register under the EPFO. Both employee and employer contribute monthly, and the fund earns a government-declared interest rate.
The calculator shows total employee contribution, total employer EPF contribution, interest earned, and the final corpus with a year-by-year breakdown.
How does it work?
The employee contributes 12% of monthly basic salary to the EPF account. The employer also contributes 12% of basic salary, but the split is not equal. Only 3.67% of the employer's share goes into the EPF account. The remaining 8.33% goes into the EPS (Employees' Pension Scheme) account, which funds the pension on retirement. EPS contributions are not included in the EPF corpus here.
Monthly interest is calculated on the running balance. The EPF interest rate for FY 2023-24 is 8.25% per annum. Divided by 12, the monthly rate is 0.6875%. Each month, the balance grows by the deposits plus that month's interest. At the end of March, the annual interest is credited to the account.
When you enter an annual salary hike, the basic salary increases each year by that percentage. Contributions scale with the salary, and the corpus grows faster because both deposits and the compounding base increase together.
EPF Calculator in India
India's EPF scheme covers over 6 crore active members. The EPFO (Employees' Provident Fund Organisation) manages contributions, interest declarations, and withdrawals. Every employee gets a UAN (Universal Account Number) that stays constant across employers and job changes.
The EPF interest rate is declared by the EPFO central board each year and notified by the Ministry of Finance. The rate has ranged from 8.10% to 8.75% over the last decade. The FY 2023-24 rate of 8.25% is among the higher recent declarations.
EPF withdrawals have specific tax rules. Withdrawals after 5 continuous years of service are fully tax-free. Early withdrawal triggers TDS at 10% on taxable portions. EPF interest on contributions above ₹2.5 lakh per year became taxable from FY 2021-22 onward. The employer's contribution above ₹7.5 lakh per year is treated as a taxable perquisite.
The EPFO portal at unifiedportal-mem.epfindia.gov.in lets members check their balance, transfer accounts, raise withdrawal claims, and update nominations. All these require the UAN to be linked to your Aadhaar and mobile number.
Tips to get the best results
- Enter only basic salary in the input field. EPF contributions apply on basic pay plus Dearness Allowance, not on gross salary or CTC. HRA, performance bonuses, and special allowances are excluded.
- Use the annual hike percentage to model realistic salary growth. At 8% annual hike, a ₹30,000 basic salary grows to ₹97,000 in 15 years. The corpus nearly triples compared to a no-hike scenario.
- Do not withdraw EPF on job change. Transfer the balance using your UAN instead. Early withdrawal before 5 years makes the employer's contribution and accumulated interest fully taxable.
- Check whether your employer uses the statutory salary cap. EPFO mandates contributions on actual basic salary, but some employers cap EPF contributions at the ₹15,000 statutory wage ceiling. Contributions on actual salary above ₹15,000 depend on company policy.
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