EPF Calculator: EPF Calculation Formula, Interest Rates and Benefits

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What Is the Formula for EPF Calculation?

To understand the basics of EPF calculation and the contributions made by the employee and the employer, one must refer to the following section.

Employee’s contribution towards EPF = 12% of (Basic pay + DA)

Employer’s contribution towards EPF = 12% of (Basic pay + DA)

Please note that the 12% of employer’s contribution is divided into two parts, 8.33% towards employee’s pension scheme (EPS) and 3.67% towards Provident fund.

To simplify the above formula, let’s understand the meaning of each term from the given table:

Terms	Meaning
Basic Pay	The standard rate of pay before additional payments
DA	Dearness Allowance is an amount added to the basic salary to calculate the take-home amount.

Inputs	Values (May be Subjected to Change)
Basic salary + DA	₹12,000
Employee’s contribution towards EPF	12% of ₹12,000
Employer’s contribution towards Employee Pension Scheme	33% of ₹12,000
Employer’s contribution towards EPF	3.67% of ₹12,000

Outputs	Values for the Above Inputs
Employee’s contribution towards EPF	₹1440/month
Employer’s contribution towards EPS account	₹1000/month rounded off
Employer’s contribution towards EPF account	₹440/month rounded off

Inputs	Values (May be Subjected to Change)
Basic salary + DA	₹20,000
Employee’s contribution towards EPF	12% of ₹20,000
Employer’s contribution towards Employee Pension Scheme	8.33% of ₹15,000
Employer’s contribution towards EPF	B - C

Outputs	Values for the Above Inputs
Employee’s contribution towards EPF	₹2400/month
Employer’s contribution towards EPS account	₹1250/month rounded off
Employer’s contribution towards EPF account	₹ (2400-1250) = ₹1150/month rounded off

EPF Calculator: Calculate EPF Returns Online

How Does an EPF Calculator Work?

What Is the Formula for EPF Calculation?

Different Scenarios of EPF Calculation

Inputs for calculation of EPF

Outputs generated from the above values are mentioned below.

Inputs for calculation of EPF

Outputs generated from the above values are mentioned below.

Steps to Calculate the EPF Amount at Retirement

Uses of EPF Calculator

Advantages of EPF Calculator

Frequently Asked Questions

✓ Will the EPF calculator show results without the data of the age of retirement of an individual?

✓ Does the EPF calculator help to reduce mistakes?

✓ Can individuals save time by using the EPF calculator?

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