EPF Calculator
This EPF calculator helps you estimate your Employee Provident Fund balance at retirement. Enter your monthly salary, current EPF balance, and other details to project your future savings. Designed for Indian employees to plan their retirement effectively.
EPF Calculator
Results
Data Source and Methodology
All calculations are based on the guidelines provided by the Employees' Provident Fund Organisation, India. Visit the EPFO official site for more details. All calculations are strictly based on the formulas and data provided by this source.
The Formula Explained
\( \text{EPF Balance} = \text{Current Balance} + (\text{Monthly Contribution} \times \text{Number of Months} \times \text{Interest Rate}) \)
Glossary of Terms
- Monthly Salary: Your monthly earnings from which contributions are calculated.
- Current EPF Balance: The existing balance in your EPF account.
- Contribution Rate: The percentage of your salary that is contributed to the EPF.
Example Calculation
Assume a monthly salary of ₹20,000, a current EPF balance of ₹1,00,000, and a contribution rate of 12%. Your projected balance can be calculated using the formula provided.
Frequently Asked Questions (FAQ)
What is EPF?
EPF stands for Employees' Provident Fund, a retirement savings scheme for employees in India.
How is the EPF contribution calculated?
EPF contributions are typically calculated at 12% of the employee's monthly salary.
Can I withdraw my EPF balance before retirement?
Yes, under certain conditions like unemployment or for specific expenses, partial withdrawal is allowed.