PF Calculator
Welcome to our PF Calculator, your reliable tool for accurately determining your Provident Fund accumulation over time. By entering the necessary details, our calculator quickly computes the expected PF amount, helping you plan your savings and retirement.
PF Amount: ₹
About PF Calculator
Find answers to common questions about the Provident Fund (PF) and how our PF Calculator can help you plan your retirement.
The Provident Fund (PF) is a government-managed retirement savings scheme, primarily for employees in India. It is designed to ensure that employees have a secure financial future after retirement.
Our Provident Fund (PF) calculator is a cloud-based tool designed to help employees calculate their PF contributions and the maturity amount they will receive upon retirement, based on their monthly salary and the contribution rate.
Typically, the allocation is as follows:
- 12% of the employee's basic salary is contributed by the employee.
- 12% of the employee's basic salary is contributed by the employer, with a portion allocated to the Employee Pension Scheme (EPS).
The maturity amount is determined by the total contributions made by both the employee and the employer, along with the interest accrued over the years. The calculation considers:
- Employee's contribution with interest
- Employer's contribution with interest
- Interest rates declared by the government for each financial year
Yes, under certain conditions such as purchasing a house, marriage, higher education, or medical emergencies, employees can withdraw a portion of their PF before retirement.
Yes, employees can transfer their PF account when they switch jobs to ensure the continuity of their retirement savings. This can be done through the EPFO portal using the Universal Account Number (UAN).
Yes, contributions made to the Provident Fund are eligible for tax deductions under Section 80C of the Income Tax Act. The interest earned and the maturity amount are also tax-exempt, provided certain conditions are met.
If an employee goes abroad for employment, they can either withdraw their PF or keep it active. If they choose to keep it active, the account will continue to earn interest even if there are no new contributions.