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Reading: EPF Calculator: EPF Interest Calculator & EPF Pension Calculator
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Investment Simplified > EPF > EPF Calculator: EPF Interest Calculator & EPF Pension Calculator
EPF

EPF Calculator: EPF Interest Calculator & EPF Pension Calculator

Monika Mohan
Last updated: 2022/11/21 at 2:56 PM
Monika Mohan Published June 22, 2022 5 Min Read
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EPF Interest & EPF Pension – The BasicsHow Does an EPF Calculator Work?How to Use EPF Pension Calculator?How to use an EPF interest calculator?EPF & Pension Calculator: FAQs

As an employee, knowing about one’s EPF contribution and the interest earned on it is an important information which must not be missed. And what about the EPF pension? How much will be your monthly pension after retirement?

An EPF interest calculator and EPF pension calculator – these are two important online tools using which you can get an estimate of your EPF interest and EPF pension.

But how to use EPF interest calculator and EPF pension calculator? Let’s find out.

EPF Interest & EPF Pension – The Basics

What is EPF – Employee’s Provident Fund scheme under which the enrolled employee contributes 12% (or 10% in some cases) of their basic salary + DA to the EPF account and their employer matches the amount – every month.

What is EPF Interest? – Interest on EPF contribution – Calculated every month but credited on yearly basis.

What is EPF Interest Calculator? – An online tool that calculates the interest earned on one’s EPF contribution. EPF interest rate, monthly basic salary etc. is used in EPF interest calculation.

The current EPF interest rate for FY 2021-22: 8.10%

What is EPS? – Employee’s Pension Scheme under which 8.33% of the employer’s contribution (from 12% of EPF) is directed towards the EPS account. This does not earn interest. Employee does not contribute to EPS. This scheme is under the EPF only.

What is EPS Pension or EPF Pension Calculator? It is a tool provided by the EPFO to get an estimate of superannuation (after 58 years of age) pension or early pension.

How Does an EPF Calculator Work?

An EPF Interest calculator takes into account the following details to calculate the EPF interest:

  • age of the employee
  • contribution rate (of employer and employee)
  • current EPF rate of interest
  • current EPF balance (optional), and
  • retirement age proposed by the employee.

The rate of interest given by EPFO is per annum, but for calculation, this rate is broken down into 12 parts, i.e. for each month (rate of interest/12) and then the total contribution (12% by employee + 8.33% by employer) for one month is used.

Please Read: How to Calculate EPF Interest in detail?

Reference image by Clear Tax.

How to Use EPF Pension Calculator?

EPFO provides the Pension calculator which is an online tool to estimate your superannuation or early pension. It uses your date of birth, date of joining and date of leaving job/retirement date to calculate the EPF pension.

To use the EPFO pension calculator, follow the steps given below:

Step 1: Go to EPFO Pension Calculator.

Step 2: It will automatically open EDLI calculator. Click on “Pension Calculator” from the menu at the top.

Step 3: Now, enter your date of birth.

Step 4: Click on “Add Service” and enter details.

Step 5: Click on “Show/Update Calculation” to know your estimated EPF pension.

How to use an EPF interest calculator?

Open any EPF calculator online and enter the following information:

  • your current age
  • basic monthly salary (+DA)
  • EPF contribution rate (12% or more if opted for Voluntary Provident Fund)
  • Retirement age (up to 58 years)
  • Current EPF balance.

As you enter all these details, the calculator will automatically do the work and show the result as the total EPF you’ll get after retirement. This EPF maturity amount will include the accrued EPF interest.

Read more about EPF:
EPF Balance CheckEPF Correction FormEPF Passbook
EPF WagesEPF Interest RateEPF Pension
EPF ContributionEPF Online ClaimEPF Premature Withdrawal
Read more about UAN:
UANUAN Activation
Read more about EPFO:
EPFO E-SewaEPFO Online PaymentEPFO KYC Online Update
EPFO EstablishmentEPFO Member PortalEPFO Registration Process
Read more about EPF Forms:
EPF Form 10CEPF Form 19EPF Withdrawal Form 31

EPF & Pension Calculator: FAQs

Which details do I need to use an EPF calculator?

You need your current age, your PF contribution (%), basic salary + DA and retirement age to use an EPF maturity calculator. Some calculators may ask for some optional inputs as well.

How much is my employer’s PF contribution in EPF calculator?

Your employer’s contribution is matched to your contribution. However, only 8.33% of the total contribution goes towards EPF while the remaining portion is directed to fun your EPS account (pension account).

Employee How to use EPF maturity calculator?

EPF maturity calculator works in the same way as any other EPF calculator. Basic salary, current age, retirement age and PF contribution are used to calculate the EPF maturity amount.

What’s the difference between EPF calculator and EPF pension calculator?

EPF calculator or EPF interest calculator given an estimate of your EPF amount (total contributions + total interest earned) while the EPF pension calculator given an estimate of the monthly pension you’ll receive after retirement or early retirement.

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By Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
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2 Comments
  • Laxmi Narayan Sharma says:
    September 5, 2022 at 12:57 pm

    After serving 22 years of service at Army Public School Nasirabad I retired on 03 Aug 2020. My contribution was as per the ceiling limit prescribed by EPF department. I joined EPF wef 01 Jan 1996 till my retirement and being given pension Rs 2522 only. Whereas wef 2014 my EPF has been deducted on Rs 15000/- as per pension formula it is completely wrong. I want to file a court case against EPF department. Please give legal advice.

    Reply
    • Monika Mohan says:
      December 1, 2022 at 11:24 am

      Hello Mr Sharma,

      Sorry that you have had such an unpleasant experience. We advise you to register your complaint at the EPFiGM Grievance Redressal Portal. Here, you will get a Complaint Number/ID that you can use to track the status of your complaint. You must get a response on it within the stipulated time.
      If you want to know how to register your complaint, please check this article: How to Register Complaints EPFiGMS

      Regards,
      Team Investment Simplified

      Reply

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