Employee Provident Fund Calculator
A fixed deposit is a type of term investment offered by several banks and NBFCs. These deposits typically offer a higher rate of interest, subject to certain terms and conditions. The amount you deposit in these deposits is locked for a predetermined period which can vary between 7 days and 10 years.
Current PF Interest Rate (FY 2023-24) 8.25%
You will have Accumulated
₹
By the time you retire
What is the Employee Provident Fund (EPF)?
The Employee Provident Fund (EPF) is a government-backed savings scheme for employees in India, aimed at providing financial security after retirement. Both employers and employees contribute to this fund, guaranteeing a steady growth of savings over time.
What is an EPF Calculator?
An EPF calculator is a tool that helps employees estimate their total savings, including employer contributions, at the time of retirement. It simplifies complex calculations, enabling individuals to better plan their financial future.
How Does the EPF Calculator Function?
The EPF calculator works by factoring in various inputs, such as monthly basic salary, employee and employer contributions, and the current EPF interest rate. Based on this information, it projects your savings at retirement, including accumulated interest.
How Does TaxSpanner’s EPF Calculator Help You?
TaxSpanner’s EPF calculator provides an accurate projection of your EPF savings by considering both employee and employer contributions, along with the current interest rates. Our tool helps you gain a clear understanding of your retirement savings, making sure for better financial planning.
How to Determine EPF Contribution Percentage?
EPF contributions are typically a percentage of an employee's basic salary. Employees contribute 12% of their salary, while employers contribute a matching amount, part of which goes toward the EPF account and part toward the employee’s pension scheme.
Key Benefits of Using an EPF Calculator
- Accurate Estimates: Know exactly how much you’ll have at retirement.
- Easy Planning: Plan your retirement finances without manual calculations.
- Timesaving: Get immediate results by inputting your salary details.
- Clear Breakdown: Understand the division between EPF savings and pension contributions.
