EPF Calculator

The EPFO declared an interest rate of 8.15% for FY 2023-24. This rate is decided annually by the EPFO and approved by the Finance Ministry.

VPF allows employees to contribute more than the mandatory 12% of basic salary to EPF. VPF earns the same interest rate as EPF and enjoys the same EEE tax benefits, making it an excellent tax-saving investment.

Partial withdrawal is allowed for specific purposes: home purchase (after 5 years), medical emergency (anytime), marriage (after 7 years), and education (after 7 years). Full withdrawal is allowed after 2 months of unemployment or at age 58.

EPF enjoys EEE (Exempt-Exempt-Exempt) tax status for contributions up to ₹2.5 lakh per year. Interest on contributions exceeding ₹2.5 lakh annually is taxable from FY 2021-22 onwards.

EPS (Employee Pension Scheme) receives 8.33% of basic salary (max ₹15,000) from the employer's contribution. Monthly pension = (Pensionable Salary × Years of Service) / 70. Minimum pension is ₹1,000/month.

You can transfer your EPF balance to the new employer using the UAN (Universal Account Number). This ensures continuity of your EPF account and uninterrupted interest earnings.