EPF Calculator

The Employee Provident Fund (EPF) is a retirement benefit plan for private sector employees, overseen by the Employees Provident Fund Organisation (EPFO). Organisations with 20 or more employees are included under EPFO's jurisdiction.
The EPFO administers three key schemes: the EPF Scheme 1952, the Pension Scheme 1995, and the Insurance Scheme 1976. Employees enrolled in the EPF scheme contribute 12% of their basic salary and dearness allowance to the fund.
Employers are also required to match this contribution, ensuring equal investment in the employee's retirement savings.

An EPF calculator is a digital tool that helps you estimate the total amount you'll have in your EPF account by the time you retire. It calculates the sum of your contributions, your employer's contributions, and the interest earned over time.
To use the KreditBee EPF calculator, simply enter your current age, basic monthly salary, dearness allowance, monthly EPF contribution, and planned retirement age (up to 60 years). You can also include your current EPF balance if available. The tool, also known as an EPF interest calculator or EPF return calculator, provides a clear view of your future EPF balance. Using an EPF calculator online helps you plan and understand your savings better.

Tools like EPF contribution calculator or an EPF interest calculator online provide a clear picture of how monthly contributions and interest affect your EPF balance.
Here's a simplified example to demonstrate the calculation process and how these tools can aid in understanding your EPF growth.
EPF = (Basic Salary + Dearness Allowance) x 12% An employee has a basic salary plus a dearness allowance of ₹16,000. Here's the breakdown of contributions:

• Employee's EPF contribution: 12% of ₹16,000 = ₹1,920
• Employer's EPF contribution: 3.67% of ₹16,000 = ₹587
• Employer's EPS contribution: 8.33% of ₹16,000 = ₹1,333

The total monthly contribution to the EPF account, combining both employee and employer contributions, is ₹1,920 + ₹587 = ₹2,507.
Assuming an annual interest rate of 8.50%, the monthly interest rate is 8.50%/12 = 0.708%.
If the employee joined Company ABC in June 2024, the total EPF contribution for June would be ₹2,507. No interest is applied for June. By July 2024, the EPF account balance would be ₹5,014 (₹2,507 + ₹2,507). The interest earned for July would be ₹5,014 * 0.708% = ₹35.46.
This process continues until the employee reaches retirement age. The EPF contribution calculator will display the final amount accumulated in the EPF account at retirement.

Calculating EPF returns online is easy with an EPF return calculator. Follow these steps to get accurate results using an EPF maturity calculator.

1. Enter Personal Details:
   Start by inputting your current age and your expected retirement age, up to a maximum of 60 years.

2. Input Salary Information:
   Provide your monthly basic pay and expected annual increment.

3. Contributions:
   Carefully enter both the employee's and employer's contributions.
   This step is crucial; mixing them up can lead to incorrect calculations.
   Ensure the employee's contribution is within 12% of the basic pay range.

4. Interest Rate:
   Input the current EPF interest rate.
   As of now, it's 8.25% p.a., set by the government.

5. Employer's Contribution:
   Note that the employer's contribution to EPF depends on your salary.
   If your salary is ₹15,000 or less, the contribution is 3.67% of the gross salary.
   If it's more, the employer's contribution is the difference between the employee's EPF contribution and the employer's EPS contribution.

By using our EPF calculator, individuals can better manage their retirement planning and stay updated on relevant changes. Here is how KreditBee's EPF calculator online can help you in your financial journey:

• Financial Planning Assistance:
  Our tool is valuable for salaried individuals to plan their retirement.
  It offers a clear picture of their projected Provident Fund (PF) balance at retirement,
  showing how much they need to save each month to reach their financial goals.

• Easy Tracking:
  KreditBee's calculator simplifies the process by automating the calculation of total contributions and accrued interest.
  This removes the need for manual calculations and ensures accurate tracking of retirement savings.

• Instant Updates:
  Users receive immediate updates on any changes in the policies, such as adjustments in interest rates or contribution ratios.
  This helps them in making informed decisions about their investments and savings strategies.

At KreditBee, we understand the importance of effective financial planning for a secure retirement. Our EPF calculator in India is designed to simplify this process, offering users clear insights into their projected Provident Fund balance.
With our EPF return calculator, you can easily track your contributions and accrued interest, ensuring accurate and effortless monitoring of your retirement savings. We are committed to providing the best financial tools to help you confidently plan for a secure financial future.