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EPF Calculator

Easily estimate your EPF savings with the EPF calculator. Scroll down to know more!

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EPF Calculator

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Are you wondering how much you'll have saved up for retirement? The Employees' Provident Fund (EPF) Calculator is here to help you determine just that! Planning for retirement can be daunting, but with this handy tool, you can easily estimate your EPF savings. In this comprehensive guide, we'll walk you through the steps of using the EPF Calculator, provide valuable insights, and answer frequently asked questions to ensure you have a solid understanding of your retirement savings. Let's dive in!

What is EPF?
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The Employees' Provident Fund (EPF) scheme is a retirement benefit plan implemented by the government to promote long-term financial security for employees. This mandatory scheme requires both employers and employees to contribute a percentage of the employee's monthly income to the EPF account. The EPF funds accumulate over time and can be withdrawn upon retirement, reaching the age of 55, or other qualifying conditions.

What is an EPF calculator?
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Calculating your EPF savings is now easier than ever with the EPF Calculator. This online tool takes into account various factors, such as your monthly income, EPF contribution rate, and years of service, to provide an estimate of your retirement savings. By inputting accurate information, you can obtain a reliable projection of your future EPF funds.

How to use the EPF Calculator
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Here are the steps to use the EPF calculator.

  1. Access the EPF Calculator: Visit the official EPF website or reputable financial planning websites to find the EPF Calculator.

  2. Gather the required information: Before using the EPF Calculator, gather the following details.

    • Monthly income

    • Age

    • EPF contribution rate

    • Years of service

  3. Enter your details: Fill in the required fields with accurate information. Ensure that your monthly income, age, EPF contribution rate, and years of service are entered correctly.

  4. Calculate your EPF savings: After inputting all the necessary details, click on the "Calculate" button to generate your estimated EPF savings.

  5. Review the results: The EPF Calculator will provide you with an estimate of your retirement savings based on the information you provided. Take note of the projected amount and keep it for future reference.

EPF Formula
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The EPF formula is a straightforward method to determine your EPF savings. Following this formula, you can accurately calculate the amount accumulated in your EPF account. Here is the EPF formula.

Total EPF Savings = (Employee Contribution + Employer Contribution) + Interest Accrued

To calculate your total EPF savings, you need to consider the following components.

  1. Employee Contribution: This refers to the portion of your salary that you contribute to your EPF account on a monthly basis. It is usually a fixed percentage, such as 12% of your basic salary plus a dearness allowance.

  2. Employer Contribution: Your employer is also required to contribute a specific percentage towards your EPF account. In most cases, the employer's contribution is also set at 12% of your basic salary plus dearness allowance.

  3. Interest Accrued: The EPF balance earns interest, which is compounded annually. The interest rate is determined by the Employees' Provident Fund Organization (EPFO) and is subject to periodic revisions.

EPF withdrawal options
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As you plan for retirement, it's crucial to be aware of the EPF withdrawal options available to you. The EPF scheme offers various withdrawal facilities to cater to different financial needs and life circumstances. Here are the common EPF withdrawal options

  1. Retirement withdrawal: When you reach the age of 55, you become eligible to withdraw the full amount in your EPF account.

  2. Partial withdrawal: In certain situations, you can make partial withdrawals from your EPF account, such as for medical expenses, housing purposes, education, and more. The specific criteria and allowable amounts for each category can vary, so it's essential to understand the guidelines set by the EPF.

  3. EPF Pension Scheme: The EPF Pension Scheme provides a monthly pension to members who meet the eligibility criteria. This scheme ensures a steady stream of income during retirement, enhancing your financial security.

Understanding the various withdrawal options available allows you to plan your retirement more effectively.

How to calculate your EPF amount?
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When using the EPF calculator in India, you can rely on its quality and reliability. To ensure accurate calculations, it's important to have the following data at your fingertips before using the calculator.

  1. Basic monthly salary, including Dearness Allowance (DA).

  2. Contribution to the EPF.

  3. Employer's contribution to the EPF.

  4. Anticipated retirement age, including any early retirement plans.

  5. Current EPF balance.

  6. The current EPF interest rate.

By inputting these details into the EPF calculator, you can determine the exact amount of your EPF savings. This tool provides a convenient way to plan for your future and make informed financial decisions.

Employer's Contribution to the EPF
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When it comes to the EPF, employers are responsible for contributing a portion of the total amount. Specifically, they are expected to contribute 8.33% of the 12% towards the Employee Pension Scheme, while the remaining 3.67% goes directly towards the EPF itself. For instance, if the monthly salary is Rs. 20,000, the employer's contribution to the EPF would amount to Rs. 734, which is 3.67% of the total salary.

Current Interest Rate for the EPF
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As for the current interest rate, the EPF offers an interest rate of 8.1% for the fiscal year 2022-23. It's important to note that the rate of interest for the EPF scheme is reviewed and determined by the Employees' Provident Fund Organization (EPFO) on an annual basis. The finance ministry takes into consideration the prevailing market conditions when evaluating any changes to the interest rate. It's worth mentioning that this interest is calculated on a monthly basis, not annually.

How can an EPF calculator help you?
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Here are the benefits of EPF.

  1. EPF offers the Voluntary Provident Fund (VPF) to increase your retirement savings beyond the standard 12% contribution.

  2. Life insurance coverage is included in the EPF.

  3. EPF provides tax exemptions under Section 80C and tax-free interest for contributions below ₹2.5 lakh per annum (Please check the applicable tax regime before filing the returns).

  4. Nominate your family members to receive the EPF corpus in case of untimely demise.

  5. Emergency withdrawals are allowed for defined circumstances like job loss or loan repayment.

Benefits of EPF calculator
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Here are the benefits of the EPF calculator.

Real-life example of EPF contributions
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Let's consider the example of Mr. Kumar, a salaried employee in India, to demonstrate the EPF calculation using the current year's interest rate of 8.1%.

Mr. Kumar's Salary Structure


Amount (in ₹)

Basic Salary


Dearness Allowance


Employee Contribution

12% of (Basic Salary + Dearness Allowance)

Employer Contribution

12% of (Basic Salary + Dearness Allowance)

Employee Contribution:

Employer Contribution:

Total Contribution:

Now, let's calculate the EPF savings considering the current year's interest rate of 8.1%.

Assuming a monthly calculation:


Opening Balance

Monthly Contribution

Interest Earned

Closing Balance

1 (April)





2 (May)





3 (June)





4 (July)





5 (August)





6 (September)





This process continues for each month until the desired retirement age is reached.

Please note that the example calculation is simplified, and actual EPF calculations may involve additional factors such as employer contributions to the Employee Pension Scheme (EPS) and changes in the EPF interest rate.

Things you must know about EPF contributions
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How to check PF balance?
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Step 1. Visit the government EPF portal

Step 2. Select the location (state, regional branch office) of your PF office

Step 3. Fill the online form with your personal information and the EPF account number. You can find these details on your payslip

Step 4. Verify the details and submit the form

Step 5. If you fulfill all the criteria, you will get an SMS with your EPF balance on your registered mobile number.

How to transfer EPF money online?
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Step 1. EPF can be transferred using the Universal Account Number (UAN), 

Step 2. Go to the official EPF member portal and complete the registration

Step 3. Use the login credentials sent to you to log in 

Step 4. Navigate to the Online Transfer Claim Portal and request for EPF transfer

Step 5. You can skip submitting Form 13 if you are eligible to make the transfer claim online

Step 6. Click ‘Request for Transfer of Funds’ and enter your old employment details 

Step 7. Get it authenticated by your previous or new employer

Step 8. Once you enter the details, a PIN will be sent to your registered mobile number

Step 9. Track your application with the tracking ID generated

Frequently Asked Questions (FAQs)
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Here are some common questions about EPF and EPF calculators.


Can an EPF calculator account for changes in the EPF interest rate?

Yes, EPF calculators can consider changes in the EPF interest rate. They often allow you to input the current year's interest rate to calculate the interest earned on your EPF contributions. This helps in estimating the growth of your EPF corpus over time.

Why should I use an EPF calculator?

Using an EPF calculator can provide you with a clearer understanding of your future EPF savings and help you plan for your retirement. It allows you to make informed decisions regarding your EPF contributions and explore the potential growth of your retirement fund.

How often should I use an EPF calculator?

It's recommended to use an EPF calculator periodically, especially when there are changes in your salary, EPF contribution rate, or EPF interest rate. Regularly reviewing your EPF calculations can help you track the progress of your savings and make necessary adjustments if needed.

Can I use an EPF calculator to plan for other investments?

Yes, an EPF calculator can be a useful tool to assess your retirement savings and determine if additional investments are required. By understanding your EPF corpus, you can evaluate if it aligns with your retirement goals and explore other investment options to supplement your savings.

Are EPF calculators available online?

Yes, there are various EPF calculators available online that you can use to estimate your EPF corpus. Many financial websites and platforms offer EPF calculators that are easy to use and provide quick results.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes.