Retirement savings

A little from every pay, a lot by retirement.EPF calculator: estimate your provident fund corpus at retirement.

If you work for a salary, a part of every month’s pay goes into your EPF, along with a share from your employer. Enter your salary and a few details to see what your EPF could grow to by the time you retire. The result is an illustration at the rates you enter.

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EPF calculator

Total contributionsInterest
Total contributions–
Interest earned–
EPF at retirement–

Illustration only, at the rates you choose. Check current rates and rules before you decide.

How to use the EPF calculator

  1. Enter your monthly basic salary plus DA, and your EPF balance today. Your payslip and EPF passbook show both.
  2. Add how much you expect your salary to rise each year, and the years left until you retire.
  3. Check the EPF interest rate. The calculator starts at 8.25%, and you can change it. Then see your corpus, total contributions and interest.

How to read your result

Total contributions is everything put in from now until you retire, your share and your employer’s together. Interest earned is the growth on your balance and contributions. The EPF corpus at retirement is your balance today, plus contributions, plus interest.

For example, on a basic plus DA of ₹30,000 a month, ₹3,600 comes from you and ₹1,101 from your employer, so ₹4,701 goes into your EPF every month. As your salary rises, so does this amount, which is why the yearly increase makes a big difference over 20 or 30 years.

EPF is a strong base for retirement, but it may not be enough on its own, especially as costs rise. The calculator doesn’t include the EPS pension or any withdrawals. Use the retirement calculator to see what you may need in all, and see how we approach retirement planning.

How the EPF calculator works

Each month, 12% of your basic plus DA comes from you and 3.67% from your employer. The rest of your employer’s 12% goes to the pension scheme (EPS), not to EPF, so it isn’t counted here. Interest is added to your balance every year at the rate you enter, and your salary goes up by your yearly increase. S is your monthly basic plus DA, B is your balance, r is the EPF rate and g is the yearly salary increase.

Monthly contribution = (12% + 3.67%) × S; balance at year end = B × (1 + r) + that year’s contributions + interest on them; S rises by g every year

FAQ

Common questions

What is an EPF calculator?
An EPF calculator estimates what your Employees’ Provident Fund could grow to by retirement, based on your salary, its yearly increase, your current balance and the interest rate.
Why does only 3.67% of my employer’s share go to EPF?
Your employer also puts in 12% of your basic plus DA, but most of it, 8.33%, goes to the Employees’ Pension Scheme (EPS). Only the rest, 3.67%, goes to EPF. Some employers split it differently for higher salaries, so check your passbook for your actual figures.
Is the EPF interest rate fixed?
No. The EPF rate is declared every year, so it can change. The calculator starts at 8.25% only as a default. Check the latest rate and enter it, or try a lower rate to be on the safe side.
Is EPF tax-free?
Under the old tax regime, your own contribution counts towards Section 80C. Withdrawals are usually tax-free after five years of continuous service, but there are exceptions, such as interest on large contributions. Tax rules change, so check with your CA.
What if I change jobs?
Transfer your EPF to your new employer using your UAN instead of withdrawing it, so it keeps growing. Money taken out midway can shrink your retirement corpus a lot.

Keep exploring

See how we helpRetirement planningBuild a corpus while you earn, then turn it into a monthly income.FD calculatorSee what your FD pays after tax, and what it’s worth in today’s money.RD calculatorSee what a fixed monthly deposit adds up to at maturity.

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