EPF Calculator
Calculate your EPF corpus at retirement based on salary, contribution and years of service.
Year-wise EPF Balance
| Year | Monthly Contribution | Yearly Contribution | Interest | Balance |
|---|
How EPF works
12% of basic salary (and DA) is deducted from your salary and deposited into your EPF account every month.
Of the employer's 12%, only 3.67% goes to your EPF account. The remaining 8.33% goes to EPS (pension), subject to ₹15,000 salary cap.
EPF interest for FY 2023-24 is 8.25% p.a., compounded monthly. The rate is declared annually by the EPFO board.
Frequently asked questions
Can I withdraw my EPF before retirement?
Full EPF withdrawal is allowed on retirement (age 58), or if unemployed for more than 2 months. Partial withdrawals are permitted for specific purposes like housing, medical emergencies, marriage, and education after completing certain years of service.
Is EPF interest taxable?
EPF interest on contributions up to ₹2.5 lakh per year (employee contribution) is tax-free. Interest on contributions above ₹2.5 lakh per year is taxable. Withdrawals after 5 years of continuous service are fully tax-free.
What is EPS and how is it different from EPF?
EPS (Employee Pension Scheme) is funded by the employer's 8.33% contribution (on a max salary of ₹15,000). Unlike EPF, EPS does not earn interest — it provides a monthly pension after retirement. You cannot withdraw EPS separately; only EPF balance is directly withdrawable.
What happens to my EPF if I change jobs?
With UAN (Universal Account Number), your EPF account is portable. You can transfer your old EPF balance to your new employer's account online through the EPFO member portal. Withdrawal without transfer within 5 years attracts tax.
Can I increase my EPF contribution voluntarily?
Yes, through VPF (Voluntary Provident Fund). You can contribute up to 100% of basic salary. VPF earns the same interest rate as EPF, qualifies for 80C deduction (within ₹1.5L limit), and enjoys the same tax treatment.