What is the EPF Calculator?
The Employees' Provident Fund (EPF) is India's mandatory retirement scheme for salaried employees. You contribute 12% of basic + DA each month; your employer matches it (with part diverted to EPS). The combined balance earns a government-declared rate — 8.25% for FY 2023-24.
This calculator projects your EPF maturity balance at retirement, factoring in annual salary growth and the prevailing interest rate.
Formula
- Employee — 12% of basic + DA
- Employer (EPF) — 3.67% of basic + DA (8.33% goes to EPS, separate)
- r — Declared annual EPF interest rate
Calculator approximates the EPS diversion; actual EPS is capped at salary of ₹15,000.
Step-by-step example
Setup: ₹30,000 basic, age 28 to 58, 5% annual growth, 8.25% interest.
- Iterate 360 months with monthly contributions and compounding
- Year-end salary grows by 5%
- Final balance ≈ ₹1.6 crore (varies with exact growth)
Answer: Maturity ≈ ₹1.6 Cr · Tax-free under EEE
Frequently asked questions
Is EPF interest taxable?
Interest on employee contribution above ₹2.5 lakh in a financial year is taxable (FY 2021-22 onwards).
Can I withdraw EPF before retirement?
Yes for specific reasons (home, medical, marriage). Withdrawal is fully tax-free after 5 years of continuous service.