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EPF Calculator

Calculate Your EPF Maturity Amount

See how your Provident Fund grows over time with monthly contributions and compound interest.

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Current EPF interest rate for FY 2024-25 is 8.25% p.a. Employer contributes 8.33% to EPS and 3.67% to EPF.

What is EPF?

The Employee Provident Fund (EPF) is a retirement savings scheme managed by the EPFO (Employees' Provident Fund Organisation). Both the employee and employer contribute a fixed percentage of the basic salary + DA.

Employee: 12% → EPF
Employer: 8.33% → EPS + 3.67% → EPF

EPF is mandatory for organizations with 20+ employees and for individuals earning basic + DA up to ₹15,000/month. Higher earners can voluntarily contribute.

EPF Interest Rate History

Financial Year Interest Rate
2024-258.25%
2023-248.25%
2022-238.15%
2021-228.10%
2020-218.50%
2019-208.50%

EPF Withdrawal Rules

  • Full withdrawal allowed after 2 months of unemployment or at age 58
  • Partial withdrawal allowed for medical emergencies, home purchase/construction, education, or marriage
  • 75% advance can be withdrawn after 1 month of leaving a job
  • Tax-free if withdrawn after 5 years of continuous service
  • TDS applicable if withdrawn before 5 years (10% if PAN provided, 30% otherwise)
  • Transfer EPF to new employer when changing jobs via online transfer on EPFO portal
FAQ

Frequently Asked Questions

Common questions about EPF and Provident Fund

How is EPF interest calculated? −

EPF interest is calculated monthly on the running balance but credited at the end of the financial year. The monthly interest rate is the annual rate divided by 12. Interest is computed on the opening balance plus that month's contribution.

What is the difference between EPF and EPS? −

EPF (Employee Provident Fund) is a savings scheme where both employee and employer contribute. EPS (Employee Pension Scheme) receives 8.33% of the employer's contribution (on basic up to ₹15,000). EPF earns interest and is withdrawable; EPS provides a monthly pension after retirement with 10+ years of service.

Is EPF contribution tax-deductible? −

Yes. Employee's EPF contribution qualifies for tax deduction under Section 80C of the Income Tax Act, up to ₹1.5 lakh per year. The interest earned is also tax-free if the EPF is withdrawn after 5 years of continuous service. However, employer's contribution above ₹7.5 lakh per year to EPF, NPS, and superannuation combined is taxable.

Can I increase my EPF contribution beyond 12%? +

How do I check my EPF balance? +

Have more questions? Check our knowledge base or contact us.

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