Why Use the EPF Calculator?
The Employees’ Provident Fund (EPF) is a vital retirement savings scheme for salaried individuals in India. Both the employee and the employer contribute a portion of the salary to this fund. Our EPF Calculator helps you estimate the substantial corpus you can build by the time you retire (usually at age 58). By factoring in your current salary, expected annual increments, and the steady power of compounding, you can better plan for a financially secure retirement.
Frequently Asked Questions (FAQs)
How much is contributed to EPF every month?
Typically, an employee contributes 12% of their Basic Salary + Dearness Allowance. The employer matches this 12%, but it’s split: 8.33% goes to the Employee’s Pension Scheme (EPS) and 3.67% goes to the EPF.
What is the current EPF interest rate?
The EPF interest rate is declared annually by the EPFO. For recent years, it has been around 8.15% to 8.25%. The interest is calculated monthly but deposited annually into your account.
Is my EPF withdrawal taxable?
EPF withdrawals are completely tax-free if you withdraw the amount after completing 5 continuous years of service. Withdrawals before 5 years may be subject to TDS.