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Calculate your Employee Provident Fund maturity corpus, monthly contributions, EPS split, and year-by-year growth projection — using the official EPFO formula. Current interest rate: 8.25% p.a. (FY 2023-24).
Enter your monthly basic salary (not gross or CTC)
Statutory minimum is 12% for both. Employer contribution is split between EPF and EPS.
Check your EPFO passbook or UAN portal for current corpus
Current EPFO rate: 8.25% p.a. (FY 2023-24). Rate is set annually by the government.
Monthly Contribution Breakdown
Your contribution (employee)
12% of basic
₹6,000
Employer EPF contribution
Goes to EPF account
₹4,750
Employer EPS contribution
Goes to pension scheme
₹1,250
EEE Tax Status — Exempt-Exempt-Exempt
Employee EPF contributions qualify for Section 80C deduction (up to ₹1.5 lakh/year). Interest earned is tax-free. Maturity amount is fully exempt after 5 continuous years of service.
| Year | Opening | Contributed | Interest | Closing |
|---|---|---|---|---|
| Yr 1 | ₹2.00 L | ₹1.29 L | ₹21,821 | ₹3.51 L |
| Yr 2 | ₹3.51 L | ₹1.29 L | ₹34,264 | ₹5.14 L |
| Yr 3 | ₹5.14 L | ₹1.29 L | ₹47,733 | ₹6.91 L |
| Yr 4 | ₹6.91 L | ₹1.29 L | ₹62,314 | ₹8.82 L |
| Yr 5 | ₹8.82 L | ₹1.29 L | ₹78,097 | ₹10.89 L |
| Yr 6 | ₹10.89 L | ₹1.29 L | ₹95,183 | ₹13.13 L |
| Yr 7 | ₹13.13 L | ₹1.29 L | ₹1.14 L | ₹15.56 L |
| Yr 8 | ₹15.56 L | ₹1.29 L | ₹1.34 L | ₹18.19 L |
| Yr 9 | ₹18.19 L | ₹1.29 L | ₹1.55 L | ₹21.03 L |
| Yr 10 | ₹21.03 L | ₹1.29 L | ₹1.79 L | ₹24.11 L |
| Yr 11 | ₹24.11 L | ₹1.29 L | ₹2.04 L | ₹27.44 L |
| Yr 12 | ₹27.44 L | ₹1.29 L | ₹2.32 L | ₹31.05 L |
| Yr 13 | ₹31.05 L | ₹1.29 L | ₹2.61 L | ₹34.95 L |
| Yr 14 | ₹34.95 L | ₹1.29 L | ₹2.94 L | ₹39.18 L |
| Yr 15 | ₹39.18 L | ₹1.29 L | ₹3.29 L | ₹43.76 L |
| Yr 16 | ₹43.76 L | ₹1.29 L | ₹3.66 L | ₹48.71 L |
| Yr 17 | ₹48.71 L | ₹1.29 L | ₹4.07 L | ₹54.07 L |
| Yr 18 | ₹54.07 L | ₹1.29 L | ₹4.51 L | ₹59.88 L |
| Yr 19 | ₹59.88 L | ₹1.29 L | ₹4.99 L | ₹66.16 L |
| Yr 20 | ₹66.16 L | ₹1.29 L | ₹5.51 L | ₹72.96 L |
Note: Projections assume a constant interest rate of 8.25% p.a. (current EPFO rate for FY 2023-24). Actual returns depend on EPFO interest rate announcements each year. EPS corpus is tracked separately by EPFO. Consult your EPFO passbook or HR for exact figures.
The Employee Provident Fund (EPF) is a mandatory retirement savings scheme for salaried employees in India governed by the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. It applies to establishments with 20 or more employees.
Every month, both you and your employer contribute 12% of your basic salary to your EPF account. The corpus earns a government-declared interest rate (8.25% for FY 2023-24) and is fully tax-free under the EEE (Exempt-Exempt-Exempt) framework.
| Component | Rate | Destination |
|---|---|---|
| Employee contribution | 12% of basic salary | EPF account |
| Employer — EPF portion | 3.67% of basic salary | EPF account |
| Employer — EPS portion | 8.33% (capped at ₹1,250/month) | Pension scheme |
| Total employee + employer to EPF | 15.67% of basic salary | EPF account |
The EPS salary ceiling is ₹15,000/month. For employees earning above ₹15,000 basic, the employer's EPS contribution is capped at ₹1,250/month (8.33% × ₹15,000).
| Financial Year | Interest Rate |
|---|---|
| FY 2023-24 | 8.25% |
| FY 2022-23 | 8.15% |
| FY 2021-22 | 8.10% |
| FY 2020-21 | 8.50% |
| FY 2019-20 | 8.50% |
Both employee and employer contribute 12% of the employee's basic salary to EPF. Of the employer's 12%, 8.33% goes to the Employee Pension Scheme (EPS) — capped at ₹1,250/month — and the rest goes to EPF.
The EPFO interest rate for FY 2023-24 is 8.25% per annum. The rate is set annually by the government and credited to EPF accounts at the end of each financial year.
Yes, EPF follows the EEE (Exempt-Exempt-Exempt) tax status. Contributions qualify for Section 80C deduction (up to ₹1.5L/year), interest earned is tax-free, and the maturity amount is fully exempt — provided you have completed 5 continuous years of service.
EPF (Employee Provident Fund) is a retirement savings corpus — both employee and employer contribute, and it earns interest. EPS (Employee Pension Scheme) is a pension fund — only the employer contributes (8.33% capped at ₹1,250/month), and it provides a monthly pension after retirement. EPS does not earn interest and cannot be withdrawn like EPF.
Partial EPF withdrawal is allowed for specific purposes: house purchase/construction (up to 90%), medical emergency (up to 6 months' salary), marriage/education (up to 50%), and unemployment (full withdrawal after 2 months of unemployment). Full withdrawal before 5 years of service attracts TDS.
EPF interest is calculated on the monthly running balance. The annual interest rate is divided by 12 to get the monthly rate. Interest is computed each month but credited to the account at the end of the financial year (March). The formula is: monthly balance × monthly rate = monthly interest credit.