Must Knows

PF calculator: How to use an EPF calculator?

[] Here is your guide to using a PF calculator to calculate the exact amount you will have in your EPF account after a certain period.

In case of salaried employees in India, a certain portion of their salaries gets deducted towards their EPF account. Over time, the money in the EPF accounts turns into substantial savings, along with the interest it earns. For FY 2023, the EPFO has decided to maintain the interest rate on PF savings at 8.1%. However, to know the exact amount of savings in your PF account, you can use the PF calculator.

You are reading: PF calculator: How to use an EPF calculator?


What is a PF calculator?

A PF calculator is a tool that helps you arrive at the exact amount of savings in your PF account over a certain period. It factors in your and your employer’s contribution to the PF account along with the interest offered by the EPFO to calculate the final amount.

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Inputs required to use the PF calculator

You can use the PF calculator by providing your age, basic salary, your contribution to the EPF scheme, interest earned on PF balance as announced by the EPFO every year and other required details.

PF calculator: How it works?

Suppose you are 30 years old. Your basic salary plus dearness allowance is Rs 50,000. Your contribution to EPF accounts is 12% of your salary while your employer offers 3.67% of your salary as his contribution. The EPFO is offering an interest rate of 8.1%. In this scenario, the post-retirement money at age 55, in your PF account, would work out to approximately Rs 82.5 lakhs.

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What are the reliable sources to use PF calculators?

Various fintech companies provide online PF calculators that can provide a broad figure of the accumulated amount in your PF account. However, the numbers obtained are only indicative of the PF savings and not absolute.

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Benefits of an EPF calculator

  • You will have a broad idea about the savings in your PF account at the time of retirement.
  • You will have some perspective about your post-retirement life.
  • You can think about other investment options to increase your post-retirement fund.
  • You will get a direction to plan your retirement and your working life.

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Category: Must Knows

Debora Berti

Università degli Studi di Firenze, IT

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