EPF Calculator

The Employee Provident Fund is a government-backed retirement savings scheme managed by the EPFO. It is mandatory for most salaried employees at companies with 20 or more staff, with both the employee and employer contributing every month toward a lump sum paid out at retirement.

You contribute 12% of your basic salary plus DA each month. Your employer matches 12%, but 8.33% of the employer share is routed to the EPS pension scheme, leaving 3.67% for your EPF. This calculator models a combined 15.67% flowing into the EPF corpus.

The EPFO reviews the EPF interest rate every year. It has recently hovered around 8.25% per annum. Interest is credited annually and is tax-free, which is why the default in this calculator sits near that level, though you can change it to test other scenarios.

EPF is tied to salaried employment with employer matching, making it ideal while you work a job. PPF is open to anyone, has a 15-year lock-in and a fixed government rate, and suits the self-employed or those wanting extra tax-free savings. Many people use both to diversify their retirement corpus.

The full balance can be withdrawn at retirement (age 58) or after two months of unemployment. Partial withdrawals are allowed earlier for specific needs such as a home purchase, medical emergencies, higher education or marriage, subject to EPFO rules and service-period conditions.