Calculate your Employee Provident Fund balance, monthly contributions, interest earned and total corpus at retirement. Includes EPS pension, VPF and year-wise growth table.
Employee Pension Scheme (EPS) — Monthly pension after retirement at 58 years.
EPS Key Points:
• Employer contributes 8.33% of Basic (max ₹1,250/month) to EPS
• Remaining employer share (3.67%) goes to EPF
• EPS salary capped at ₹15,000/month for pension calculation
• Minimum 10 years of service for pension; minimum pension ₹1,000/month
• Pension starts at age 58 (early pension from 50 with reduced amount)
📐 EPF Calculation — How It Works
Monthly Contributions
Employee contribution = 12% of (Basic + DA)
Entire 12% goes to EPF account
Employer contribution = 12% of (Basic + DA)
Split as:
EPS (Pension Scheme) = 8.33% of Basic
(capped at ₹1,250/month)
EPF (Employee PF) = Remaining = 3.67%
(or more if Basic above ₹15,000)
Example: Basic ₹30,000/month
Employee EPF = 30,000 × 12% = ₹3,600/month
Employer EPS = 15,000 × 8.33% = ₹1,250/month (capped)
Employer EPF = 3,600 − 1,250 = ₹2,350/month
Total to EPF = 3,600 + 2,350 = ₹5,950/month
Interest Calculation (Annual)
EPF interest is calculated monthly but credited annually.
Interest = Opening Balance × Rate/12
+ Running monthly contribution × Rate/12
Current EPF interest rate: 8.25% (FY 2024-25)
Simplified annual formula:
Year end balance = Opening Balance × (1 + rate)
+ Annual Contribution × (1 + rate/2)
The second term accounts for the fact that
contributions are made monthly throughout the year.
Tax on interest: Interest on employee EPF
contribution above ₹2.5L/year (₹5L for govt)
is taxable from FY 2021-22 onwards.
EPS Pension Formula
Monthly Pension = (Pensionable Salary × Service) / 70
Pensionable Salary = Average monthly Basic+DA
of last 60 months
(capped at ₹15,000)
Example: Salary ₹15,000, Service 20 years
Pension = (15,000 × 20) / 70 = ₹4,286/month
Minimum pension: ₹1,000/month
Maximum pensionable service: 35 years
❓ Frequently Asked Questions
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