EPF / PF Calculator India
8.25% FY 2023-24Calculate your Employee Provident Fund (EPF) maturity amount, monthly contributions, EPS pension estimate, and year-wise growth — updated with the latest 8.25% interest rate.
Salary Details
Service Details
✅ 28 years of EPF contributions remaining
EPFO declared 8.25% for FY 2023-24
At retirement · 28 years · 8.25% p.a.
Monthly Contribution Breakdown
₹3,600
Employee (12%)
₹1,101
Employer EPF (3.67%)
₹1,250
Employer EPS (8.33%)
EPS contribution goes to the pension scheme and does not accumulate in your PF account. Only EPF (3.67%) from employer + 12% from employee earns interest.
Maturity Composition
int.
₹15,79,536
27%
₹42,80,970
73%
EPF Key Facts at a Glance
Employee Contribution
12% of Basic + DA
Employer Contribution
12% of Basic + DA
Employer EPF Split
3.67% EPF + 8.33% EPS
Interest Rate FY24
8.25% p.a.
EPS Wage Ceiling
₹15,000/month
Max Tax-free Withdrawal
After 5 years service
How EPF Contributions are Split
| Component | Rate | Goes To |
|---|---|---|
| Employee | 12% | EPF Account |
| Employer EPF | 3.67% | EPF Account |
| Employer EPS | 8.33% | Pension Fund |
| Employer EDLI | 0.5% | Insurance Fund |
| Admin Charges | 0.5% | EPFO Admin |
Partial Withdrawal Rules
Medical Emergency
Up to 6 months' basic salary. No minimum service required.
Marriage / Education
50% of employee's share. Minimum 7 years of service.
Home Purchase / Loan
Up to 90% of balance. Minimum 5 years of service.
Home Renovation
Up to 12 times monthly wages. Minimum 5 years.
EPF Interest Rate History
| Financial Year | Interest Rate |
|---|---|
| FY 2023-24 Current | 8.25% |
| FY 2022-23 | 8.15% |
| FY 2021-22 | 8.10% |
| FY 2020-21 | 8.50% |
| FY 2019-20 | 8.50% |
| FY 2018-19 | 8.65% |
Frequently Asked Questions
What is EPF and how does it work?
EPF (Employee Provident Fund) is a mandatory savings scheme for salaried employees in India managed by the EPFO. Both employee and employer contribute 12% of the basic salary + DA each month. The accumulated corpus earns a government-declared interest rate and is paid out at retirement.
What is the EPF interest rate for FY 2023-24?
The EPFO declared an interest rate of 8.25% per annum for FY 2023-24 — the highest in over a decade. Interest is calculated on the monthly running balance and credited annually to the EPF account.
What is the difference between EPF and EPS?
EPF (Employee Provident Fund) is the savings component. Of the employer's 12% contribution, 8.33% goes to EPS (Employee Pension Scheme) and 3.67% goes to EPF. EPS builds a pension corpus, while EPF grows with compound interest. EPS contributions are capped at ₹15,000 wage ceiling.
When can I withdraw my EPF?
Full EPF withdrawal is allowed on retirement (age 58), or after being unemployed for 2+ months. Partial withdrawals are allowed for specific purposes like medical emergency (up to 6 months salary), marriage/education (50% of employee share), home loan repayment, and more after specific service periods.
Is EPF withdrawal taxable?
EPF withdrawal after 5 years of continuous service is fully tax-free. Withdrawal before 5 years is taxable — TDS at 10% is deducted (if PAN provided) or 34.608% (if PAN not provided). Withdrawal due to ill health or company closure is always tax-free.
What is the EPS pension formula?
EPS Monthly Pension = (Pensionable Salary × Pensionable Service) ÷ 70. Pensionable salary is the average monthly salary for the last 60 months, capped at ₹15,000. Pensionable service counts years of EPS membership.
Can I check my EPF balance online?
Yes. You can check your EPF balance on the EPFO member portal (passbook.epfindia.gov.in) using your UAN and password. You can also use the UMANG app, send an SMS to 7738299899, or give a missed call to 011-22901406 from your registered mobile number.