EPF Calculator

Our EPF calculator will help you to estimate your Employee Provident Fund (EPF) corpus at the time of retirement. You just need to enter the current balance of your EPF account or Pension fund account and your Employer’s contribution towards your EPF account. Further, enter an expected growth rate in your salary until your retirement, which will help you to increase EPF contribution every year. Rate of Interest on EPF is revised yearly you can change it as per your future expectation.


Current Age
 

Please Enter Age.

Retirement Age
 

Please Enter Age.

Current EPF Balance

Please Enter Amount.

Employee Contribution

Please Enter Amount.

Employer Contribution

Please Enter Amount.

Growth Rate in EPF Contribution

Please Enter Percentage. Enter upto 2 decimal.

Rate of Interest

Please Enter Percentage. Enter upto 2 decimal.

Current Pension Fund Balance

Please Enter Amount.


What is Employee Provident Fund (EPF)?

In this fund the employee and the employer contribute a defined amount every month with the objective of long term savings/savings for retirement. Here, you contribute 12% of the specified salary (either Rs. 6,500 or your actual Basic if it is higher - whichever you choose) and your employer contributes 3.67% of the specified salary (either Rs. 6,500 or the actual Basic, whichever is higher, if it so chooses)

What is Employee Pension Scheme (EPS)

In this fund the employer and the Central Government contribute a defined amount every month with the sole objective of providing regular pension to the employee post retirement. You as an employee do not contribute to your own Pension Scheme, this is contributed by your employer and by the Central Government. Your employer contributes 8.33% of Rs. 6,500 Basic salary to the Employee Pension Scheme, and the Central Government contributes 1.16% of the same. The EPS provides you with regular annuity after your retirement.

Can You Withdraw from Your EPF Account before Maturity?

There are certain circumstances when you can actually withdraw your money from EPF account before maturity. You can withdraw from your EPF account for the below needs:


  1. Construction / Purchase of a House including acquisition of site or plot for such purpose
  2. Addition / Repair to the existing house
  3. Repayment of loans
  4. Medical Treatment in case of certain major Illness
  5. Marriage or Education
  6. Withdrawal within one year before the retirement

Let’s take a look at such circumstances, and the criteria that apply for withdrawal from your EPF account: 


  1. Construction / Purchase of a House including acquisition of site or plot for such purpose
    • You should have completed minimum 5 years of service.
    • Purchase of a House can be for Self, Spouse or joint ownership with spouse.
    • In case of purchase of a site or plot for construction of a house, EPF withdrawal amount should be least of the following:
      1. 24 months of your Salary (Basic + Dearness Allowance) OR
      2. You and your employers share of contribution with interest OR
      3. Actual cost of acquisition of site or plot.
    • In case of purchase of a built in house OR construction of a house, EPF withdrawal amount should be least of the following: 
      1. 36 months of your Salary (Basic + Dearness Allowance) OR
      2. You and your employers share of contribution with interest OR
      3. Actual cost of acquisition of House.
    • In case you are withdrawing the EPF amount for construction of the house, then construction should begin within 6 months of the 1st instalment and should get completed within 12 months of the last instalment.
    • In case you are withdrawing the amount from EPF for purchase of the house or the site or plot, then purchase shall be completed within 6 months of the withdrawal of the amount.
  2. Addition / Repair to the existing house
    • House should be owned by for Self, Spouse or joint ownership with spouse.
    • EPF Withdrawal amount should be least of the following: 
      1. 12 months of your Salary (Basic + Dearness Allowance) OR
      2. Your share of contribution with interest.
  1. Repayment of loans 
    • You should have completed minimum 10 years of service.
    • Loan should be in the name of Self, Spouse or joint ownership with spouse.
    • EPF Withdrawal amount should be least of the following:
      1. 36 months of your Salary (Basic + Dearness Allowance) OR
      2. You and your employers share of contribution with interest OR
      3. Outstanding amount of loan (Principal + Interest).
  1. Medical Treatment in case of certain major Illness
    • Medical treatment can be for self or a member of your family.
    • Your employer should have granted leave for treatment of the illness.
    • Certificate from a doctor of the hospital is required as a proof.
    • EPF Withdrawal is possible in case hospitalization lasts for one month or more.
    • Withdrawal is possible in case of any major surgical operation in a hospital.
    • EPF Withdrawal is possible in case of suffering from T.B., leprosy, paralysis, cancer, mental derangement or heart ailment. Withdrawal amount should be least of the following: 
      1. 6 months of your Salary (Basic + Dearness Allowance) OR
      2. Your share of contribution with interest in the fund.
  1. Marriage or Education
    • You should have completed minimum 7 years of service.
    • You can withdraw the EPF amount for marriage or educationof self, children or siblings.
    • Maximum amount of EPF withdrawal can be 50% of your share of contribution with interest in the fund.
  1. Withdrawal within one year before the retirement
    • Maximum amount of EPF withdrawal can be 90% of the fund value.
    • Withdrawal is possible at any time after attainment of the age of 54 years or within one year before retirement, whichever is later.


 



Disclaimer : PersonalFN is not providing any investment advice through this service PersonalFN does not warrant that this service is complete, accurate, reliable, current, reliable, suitable, free from any virus, disruption or interruption and expressly disclaims all warranties and conditions of any kind, whether express or implied. The results may be based on certain assumptions. terms of Usebefore using this service.

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