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Employee Provident Fund

₹
Yr
Yr
%
₹
Employee's contribution
12%
Employer's contribution
3.67%
AgeOpening BalanceYearly SalaryEmployee ContributionEmployer ContributionClosing Balance
25₹ 0₹ 12,00,000₹ 1,44,000₹ 44,040₹ 2,04,023
26₹ 2,04,023₹ 13,20,000₹ 1,58,400₹ 48,444₹ 4,45,791
27₹ 4,45,791₹ 14,52,000₹ 1,74,240₹ 53,288₹ 7,30,551
28₹ 7,30,551₹ 15,97,200₹ 1,91,664₹ 58,617₹ 10,64,203
29₹ 10,64,203₹ 17,56,920₹ 2,10,830₹ 64,479₹ 14,53,371
30₹ 14,53,371₹ 19,32,612₹ 2,31,913₹ 70,927₹ 19,05,489
31₹ 19,05,489₹ 21,25,873₹ 2,55,105₹ 78,020₹ 24,28,896
32₹ 24,28,896₹ 23,38,460₹ 2,80,615₹ 85,821₹ 30,32,935
33₹ 30,32,935₹ 25,72,306₹ 3,08,677₹ 94,404₹ 37,28,077
34₹ 37,28,077₹ 28,29,537₹ 3,39,544₹ 1,03,844₹ 45,26,040
35₹ 45,26,040₹ 31,12,491₹ 3,73,499₹ 1,14,228₹ 54,39,937
36₹ 54,39,937₹ 34,23,740₹ 4,10,849₹ 1,25,651₹ 64,84,434
37₹ 64,84,434₹ 37,66,114₹ 4,51,934₹ 1,38,216₹ 76,75,924
38₹ 76,75,924₹ 41,42,725₹ 4,97,127₹ 1,52,038₹ 90,32,722
39₹ 90,32,722₹ 45,56,998₹ 5,46,840₹ 1,67,242₹ 1,05,75,282
40₹ 1,05,75,282₹ 50,12,698₹ 6,01,524₹ 1,83,966₹ 1,23,26,438
41₹ 1,23,26,438₹ 55,13,968₹ 6,61,676₹ 2,02,363₹ 1,43,11,668
42₹ 1,43,11,668₹ 60,65,365₹ 7,27,844₹ 2,22,599₹ 1,65,59,390
43₹ 1,65,59,390₹ 66,71,902₹ 8,00,628₹ 2,44,859₹ 1,91,01,292
44₹ 1,91,01,292₹ 73,39,092₹ 8,80,691₹ 2,69,345₹ 2,19,72,691
45₹ 2,19,72,691₹ 80,73,001₹ 9,68,760₹ 2,96,279₹ 2,52,12,937
46₹ 2,52,12,937₹ 88,80,301₹ 10,65,636₹ 3,25,907₹ 2,88,65,861
47₹ 2,88,65,861₹ 97,68,331₹ 11,72,200₹ 3,58,498₹ 3,29,80,267
48₹ 3,29,80,267₹ 1,07,45,164₹ 12,89,420₹ 3,94,348₹ 3,76,10,478
49₹ 3,76,10,478₹ 1,18,19,680₹ 14,18,362₹ 4,33,782₹ 4,28,16,945
50₹ 4,28,16,945₹ 1,30,01,648₹ 15,60,198₹ 4,77,160₹ 4,86,66,919
51₹ 4,86,66,919₹ 1,43,01,813₹ 17,16,218₹ 5,24,877₹ 5,52,35,195
52₹ 5,52,35,195₹ 1,57,31,994₹ 18,87,839₹ 5,77,364₹ 6,26,04,932
53₹ 6,26,04,932₹ 1,73,05,193₹ 20,76,623₹ 6,35,101₹ 7,08,68,572
54₹ 7,08,68,572₹ 1,90,35,712₹ 22,84,285₹ 6,98,611₹ 8,01,28,843
55₹ 8,01,28,843₹ 2,09,39,283₹ 25,12,714₹ 7,68,472₹ 9,04,99,881
56₹ 9,04,99,881₹ 2,30,33,211₹ 27,63,985₹ 8,45,319₹ 10,21,08,466
57₹ 10,21,08,466₹ 2,53,36,532₹ 30,40,384₹ 9,29,851₹ 11,50,95,391
58₹ 11,50,95,391₹ 2,78,70,185₹ 33,44,422₹ 10,22,836₹ 12,96,16,974
59₹ 12,96,16,974₹ 3,06,57,204₹ 36,78,864₹ 11,25,119₹ 14,58,46,738
60₹ 14,58,46,738₹ 3,37,22,924₹ 40,46,751₹ 12,37,631₹ 16,39,77,265

The Employee Provident Fund or the EPF is a retirement benefits scheme for salaried employees in the private sector. EPF is managed by the Employees Provident Fund Organization (EPFO). Koshex EPF calculator will help you estimate the amount of money that you will accumulate in your EPF account at retirement. You can calculate the lumpsum amount, which includes both your contribution and your employer's contribution, as well as, the accrued interest on the investment.

How Does Our EPF Calculator Work?

Our EPF Calculator works on the below formula:

M = (12% * Basic pay) * (1 + (r / n))^n*t

Where,

M is the maturity amount you get
r is the EPF interest rate
n is the number of months interest rate compounds = (retirement age - present age) × 12
t is the retirement age - the present age

Example:

Ms. Radha, who is 25 years old, earns a basic salary of ₹25,000 with an expected annual increase of 10% each year, including a dearness allowance. She contributes 12% of her salary to EPF (i.e) ₹3,000 each month. Her employer contributes 12% towards the employee's EPF account. The maximum salary limit on which the employer's contribution is calculated is capped at ₹15,000. Hence, her employer would be contributing ₹1,800 every month. So, the total EPF contribution is ₹4,800 with her share increasing every year with an increase in salary.

Ms. Radha would contribute to the EPF until her retirement age i.e. 60 years, which leaves her with 36 years to contribute including her current age.

Radha's Contribution to EPF: ₹1,07,68,565
Employer's Contribution: ₹7,77,600
Total Contribution: ₹1,15,46,165
Maturity Amount: ₹3,63,16,687 (assuming current PF Interest rate of 8.5%)

How Should You Use Koshex EPF Calculator?

Here is a step-by-step guide on how to use the Koshex EPF Calculator.
Step 1: Enter your monthly basic salary, current age, and retirement age in the calculator.
Step 2: Also, enter the average increase in salary you expect every year. The rate of interest on your EPF will be the default and cannot be changed.
Step 3: Koshex EPF calculator will show you the EPF funds that you will receive at your retirement.

Benefits Of Using Koshex EPF Calculator

Some of the advantages of Koshex's EPF calculator are as below:

  • The Employee Provident Fund calculator uses minimal effort
  • This EPF calculator saves time, as you can calculate the maturity amount in a couple of seconds
  • The EPF calculator is accurate, so you will get error-free results
  • You will be able to plan your finances better with our calculator

EPF Calculator - FAQs

What is the contribution to the provident fund both by the employer & employee?
The employee contributes 12% of his / her / their basic salary and the same amount is contributed by the employer.
  1. 3.67% towards EPF and
  2. 8.33% towards Employees' Pension Scheme.
The employer also pays the below fees:
  1. 1.1% as EPF administration charges
  2. 0.5% towards Employees' Deposit Linked Insurance (EDLI)
  3. 0.01% towards EDLI administration charges
Is it compulsory for all the employees to contribute to the Provident Fund?
No. Employees who draw a basic salary up to ₹6500/- (₹15000/- from 01.09.2014) have to compulsory contribute to the Provident fund and employees drawing above ₹6501/- ( (₹15001/- from 01.09.2014)) have an option to contribute towards the Provident Fund.
How can I withdraw from my EPF?
You have to retire from a job after turning 55 to claim the final PF settlement. Anyone over 54 can withdraw up to 90% of the accumulated balance with interest. If the person is under 55, they can apply for EPF withdrawal only if they have been unemployed for at least 2 months - 75% if unemployed for one month and the balance 25% after the second month of unemployment.
How would I know the accumulation amount in my PF account?
The PF office sends an annual statement through the employer and this statement consists of details about the PF accumulations. The details include the opening balance, the amount contributed during the year, withdrawal during the year, interest earned and the closing balance in the PF account. This statement is sent by the PF office after the financial year.
Will I be able to contribute to the EPF after I leave my job?
No. Any contribution by you must be matched with the employer's share of the contribution.
Can I contribute more than the statutory rate of 12%?
Yes. You can pay a voluntary contribution above your normal contribution of 12%. The total contribution i.e., voluntary + mandatory can be up to ₹15,000 per month. You can also contribute to higher wages i.e., > ₹15,000 after receiving permission from APFC/RPFC as per the provisions of para-26(6) of the Scheme.
Can I continue as a PF member even after my retirement?
Yes. If you continue to work even after attaining the superannuation age, you can continue as a PF member.
How long can I continue my EPF membership?
There is no restriction on the period for EPF membership. You can continue your membership even after leaving the establishment. On the other hand, if you do not contribute to a PF account for 3 consecutive years, the account will not earn any interest after 3 years from the stopping of contribution.