Employee Provident Fund (EPF) is one of the main platforms of compulsory savings in India for nearly all people working in Government, Public or Private sector Organizations. This calculator is used to calculate total amount accumulated in EPF based on 12% Employee’s contribution and 12% of Basic Pay and Dearness Allowance -Rs 541 as Employer contribution. It is based on following assumptions:
An employee starts with a salary of Rs. 20,000 with Basic salary and Dearness Allowance of Rs 7500 at 25 years and works till 60 years. Every year, on an average, he gets a 5% increment. He contributes 12% of his basic salary towards PF which is matched equally by one’s company, EPF contribution is 12% – 541 , . Over the course of 35 years of his working life, his total contribution is Rs. 9,75,459.32. Of course, his company makes a contribution of Rs. 7,48,239.32, total contribution of Rs 17,23,698.64. And this amount grows into – Rs. 65,86,528.751 at the time of his retirement!
To know more about EPF, different methods in which EPF can be calculated you may read our Basics of Employee Provident Fund: EPF, EPS, EDLIS
It uses Zoho Sheet which is like Excel. It may take a little time to load so be little patient. You can play around with the numbers just like in excel using Options on the top-right corner of sheet.
This is dedicated to our Reader Jai Kumar. Thanks Jai.
Hope you find it helpful!Please let us know whether you liked it or not by leaving a comment.