What is an EPF Calculator?

An EPF (Employee Provident Fund) calculator, like this one from One For All Financial Calculators, is a user-friendly online tool to estimate your EPF corpus at retirement. Simply enter your basic details such as retirement age, basic monthly salary, expected annual salary increase, and EPF contribution details.

This estimate helps you plan your retirement. You can assess if your projected EPF savings meet your financial needs on retirement. Based on this, you can decide if you need to explore other investment options to achieve your financial goals.

What is EPF?

The Employee Provident Fund (EPF) is a savings fund where both the employee and employer contribute monthly. It's a key scheme under the Employees Provident Fund and Miscellaneous Provisions Act, 1952, and is backed by the Employees Provident Fund Organisation (EPFO).

Organizations with more than 20 employees are required to register under the EPF Act. An employee contributes a portion of their salary, and the employer contributes an equal amount. This provides financial support to salaried individuals after retirement, ensuring a financially independent retirement.

How to Use One For All's EPF Calculator:

Our free online EPF calculator helps you estimate your retirement savings. It's easy to use and provides a clear view of your potential EPF corpus.

To determine the potential returns of your EPF account, enter the following information:

• Basic Monthly Salary + DA: Your monthly basic salary plus Dearness Allowance.
• Employee Contribution (%): The percentage of your salary you contribute.
• Employer Contribution (%): The percentage of your salary your employer contributes.
• Contribution Frequency: Choose whether contributions are made monthly or yearly.
• Current Age: Your current age.
• Retirement Age: Your planned retirement age.
• Annual Salary Increase (%): The expected annual increase in your salary.
• Annual Interest Rate (%): The expected annual interest rate on your EPF.

What the Calculator Provides:

With the given inputs, our PF interest calculator provides the following values:

• Estimated EPF at Retirement: The total EPF corpus you can expect at retirement.
• Total Employee Contribution: The total amount contributed by the employee over the investment period.
• Total Employer Contribution: The total amount contributed by the employer over the investment period.
• Total Interest Earned: The total interest earned on the EPF contributions.

Example:

Let's say Mr. Krish is currently 25 years old and plans to retire at 60. His current basic monthly salary is ₹25,000, and he expects a 10% annual increase in salary. He contributes 12% of his salary to EPF, and his employer contributes 3.67%. Assuming an interest rate of 8.25% p.a. and a current EPF balance of ₹0, our calculator estimates the following:

• Estimated EPF at Retirement: [Your Calculated Value Here]
• Total Employee Contribution: [Your Calculated Value Here]
• Total Employer Contribution: [Your Calculated Value Here]
• Total Interest Earned: [Your Calculated Value Here]

EPF Interest Rates Over Time:

The interest rate is determined annually by the Central Government of India, in consultation with the Ministry of Finance and EPFO’s Central Board of Trustees. The interest is calculated monthly.

Here’s a look at EPF interest rates over the past decade:

Disclaimer: This EPF calculator is for informational purposes only and provides an estimate. Actual values may vary. Consult with a financial advisor for personalized advice.