Provident Fund Calculator

Enter the values that you want to calculate PF.

Current age(Years):
Retirement age(Years):
Monthly salary (basic):
Monthly employee contribution(%):
Monthly employer contribution(%):
Current EPF balance:
Expected rate of return(%):
Average annual salary increment:

Result

 

Provident Fund Calculator (PF)

Welcome to our Provident Fund (PF) Calculator, a user-friendly tool designed to help you plan for a financially secure retirement. This calculator simplifies the process of estimating your retirement corpus in your Employee Provident Fund (EPF).

How to Use the PF Calculator

To get started, simply input your current age, anticipated retirement age, monthly salary, contributions from both you and your employer, your current EPF balance, the expected rate of return, and your average annual salary increment. The calculator will do the rest!

Understanding the Provident Fund

The Employee Provident Fund is a savings scheme primarily for employees in India, aiding in accumulating a substantial retirement corpus. Contributions are made monthly by both the employee and employer, and the amount accumulates with interest over your career.

Formula and Calculation

The PF amount is computed using the formula:

PF = Monthly Contribution × Total Number of Contributing Years × Interest Rate

This formula ensures that you get an accurate estimate of your savings at retirement.

Uses and Benefits

1. For Employees: Understand the growth of your retirement savings.
2. For Employers: Illustrate PF benefits to employees.
3. For Financial Planners: Create long-term financial strategies.
4. For Near-Retirees: Estimate your PF corpus for retirement planning.

 

Frequently Asked Questions

1. How is Provident Fund Calculated?

   Provident Fund (PF) is calculated as a percentage of the employee's salary (basic + dearness allowances). Both the employee and employer contribute a specific percentage (usually 12%) to the fund. The total PF balance also earns interest over time.

2. How is PF Calculated for Salary Above 15000?

   For salaries above INR 15,000, the contribution can be capped at the PF wage ceiling of INR 15,000 or the actual salary, depending on the company's policy. This means the maximum PF contribution can be 12% of INR 15,000, even for higher salaries.

3. What is the PF Deduction for 25000 Salary?

   For a monthly salary of INR 25,000, the standard PF deduction is 12%, amounting to INR 3,000. However, it can vary if the employer chooses to cap the contribution at the statutory limit of INR 15,000.

4. What is Provident Fund Rate on Salary?

   The Provident Fund interest rate is determined by the government and the EPFO (Employees' Provident Fund Organisation) annually. As of the last update, it was around 8-8.5% per annum.

5. Can I Withdraw My Full PF Amount?

   Full PF withdrawal is allowed upon retirement, unemployment for more than two months, or under specific circumstances like home purchase or marriage. However, certain conditions apply for early withdrawal.

6. How to Calculate PF on Salary in Excel?

   You can use Excel to calculate PF by applying the formula = (Basic Salary + Dearness Allowance) * 12%. Use separate cells to input the salary components and the rate, and apply the formula to calculate the PF.

7. What is the CTC for 25000 Salary per Month?

   The Cost to Company (CTC) for a 25000 salary would include the gross salary plus employer's contributions like PF, gratuity, and any other benefits. The exact CTC can vary based on these additional factors.

8. Who is Eligible for PF?

   Any employee with a basic salary plus dearness allowance up to INR 15,000 per month is mandatorily required to have a PF account. Employees earning more than this limit can opt for PF voluntarily.

9. What is TDS in Salary Slip?

   Tax Deducted at Source (TDS) on a salary slip indicates the amount of income tax deducted by the employer from your salary as per the income tax slab rates applicable to you.

10. How is PF Calculated During Withdrawal?

    During withdrawal, the PF amount is calculated based on the total contributions made by the employee and employer, plus the accumulated interest till the date of withdrawal.

11. Is Employer Contribution to PF 12% or 13%?

    The employer's contribution to PF is typically 12%, of which 8.33% goes into the Employees' Pension Scheme (EPS) and the remaining 3.67% into the EPF.

12. What is the Maximum PF Contribution per Month?

    The maximum PF contribution per month is capped at 12% of INR 15,000, which is INR 1,800, unless the employer and employee opt to contribute on the full salary.

13. What is the 13% PF Contribution by Employer?

    In some cases, employers contribute an additional 1% to the PF, making it a total of 13%, but this is not a standard practice and varies across organizations.

14. Can We Withdraw 100% PF While Working?

    No, 100% PF withdrawal is not permitted while you are still employed. However, partial withdrawals are allowed under certain conditions.

15. Can I Withdraw My PF 2 Times in a Month?

    Typically, PF withdrawal is restricted to once during a specific period for a particular reason, like medical emergency or home loan repayment.

16. How Many Days Required for PF Withdrawal?

    PF withdrawal processing times can vary but typically take about 15-20 days. It can be faster with an online application through the UAN portal.