EPF/VPF Calculator
Calculate your EPF & VPF returns with advanced features like salary growth, tax benefits, and withdrawal scenarios
EPF Summary
Growth Over Time
Key Takeaways
- EPF Growth: ₹1,00,000 grows to ₹25,17,000 in 28 years at 8.15% interest
- Effective Return: Your money grows at 8.15% annually with monthly compounding
- Tax Benefits: Contributions up to ₹1.5L/year qualify for 80C deduction
- Inflation Impact: 6% inflation reduces purchasing power to ~₹12,50,000 in today's value
- Pension Benefit: You may receive ~₹7,500/month from EPS after retirement
Contribution Scenarios
Yearly Breakdown
| Year | Age | Salary (₹) | Your Contribution (₹) | Employer Contribution (₹) | Interest (₹) | Balance (₹) | Inflation-Adjusted (₹) |
|---|---|---|---|---|---|---|---|
| 1 | 30 | ₹6,00,000 | ₹72,000 | ₹72,000 | ₹5,868 | ₹1,49,868 | ₹1,41,385 |
| ... | ... | ... | ... | ... | ... | ... | ... |
| 28 | 58 | ₹36,00,000 | ₹4,32,000 | ₹4,32,000 | ₹2,45,000 | ₹25,17,000 | ₹12,50,000 |
The EPF (Employees’ Provident Fund) and VPF (Voluntary Provident Fund) are the key savings vehicles for salaried employees, providing post-retirement financial security. Our EPF & VPF Calculator allows you to estimate your retirement corpus, including both employee and employer contributions, interest, pension benefit, and inflation-adjusted return.
Whether you’re contributing to EPF or growing your savings through VPF, this calculator will present you with a clear idea of how your investment builds up over the long term, so you can plan a good retirement.
How to Use the EPF & VPF Calculator
Our EPF & VPF Calculator is easy to use. Here’s how you can use it:
- Enter Your Personal Details: Start by entering your current age and retirement age. This helps us calculate the number of years you will be contributing to the fund.
- Salary Details: Input your basic salary and the employee contribution percentage to the EPF. You can also add voluntary contributions (VPF) if applicable.
- Employer Contributions: The employer typically contributes a portion to both EPF and EPS (Employee Pension Scheme). Specify the split between these two contributions.
- Interest Rate: Enter the current interest rate on EPF. Our calculator assumes monthly compounding for more accurate results.
- Advanced Options: You can further customize your inputs with options such as salary growth, inflation rate, and the possibility of early withdrawal. Additionally, the calculator accounts for tax benefits under Section 80C and taxes on VPF contributions over ₹1.5 lakhs.
- Calculate and Get Results: Once you’ve entered the details, click Calculate to get an estimate of your EPF corpus, interest earned, pension benefits, inflation-adjusted values, and more.
Features of the EPF & VPF Calculator
EPF Contributions
Salaried employees must contribute EPF. The percentage of basic salary is contributed both by employees and employers. The section allows you to determine how your EPF will grow in accordance with what both sides contributed.
Voluntary Provident Fund (VPF)
The VPF is a voluntary contribution to the EPF account, where employees can choose to contribute more than the mandatory 12%. This section allows you to enter a fixed amount or a percentage of your salary that you want to contribute additionally through VPF.
Employer’s Contribution
The employer contributes to both the EPF and the EPS. The employer’s share is split between EPF and EPS, which provides you with a pension in your retirement. The calculator allows you to specify how much of the employer’s contribution goes towards EPF and how much towards EPS.
Interest and Returns
EPF earns a tax-free interest that is compounded monthly. The calculator uses the current EPF interest rate to estimate the returns on your contributions.
Inflation Adjustment
Inflation erodes the value of money over time. The calculator accounts for inflation to show how the maturity value of your EPF corpus compares in today’s terms.
Tax Impact
The calculator includes options to calculate tax deductions based on your contribution amount. For VPF contributions over ₹1.5 lakh in a year, the tax benefits may differ, and the withdrawal before 5 years can attract tax deductions.
Pension from EPS
The Employee Pension Scheme (EPS) provides a pension on retirement depending on the contributions from the employee as well as the employer. Our calculator assists you in estimating how much monthly pension you will get from your EPS fund.
Key Takeaways
- Calculate Your EPF Growth: Estimate how ₹1,00,000 will grow over time with regular contributions and monthly compounding.
- Track Employer Contributions: Understand how your employer’s share adds up to your retirement fund.
- See Your VPF Impact: Evaluate how additional voluntary contributions (VPF) can increase your corpus.
- Understand Pension Benefits: Learn how your EPS contributions convert into a monthly pension after retirement.
- Inflation & Tax Impact: Find out how inflation will affect your purchasing power and the taxes on VPF withdrawals.
Why Use the EPF & VPF Calculator?
Retirement planning can be overwhelming, but the EPF & VPF Calculator simplifies things for you by illustrating your savings’ long-term increase. Knowing how contributions, interest, and inflation will affect your final corpus helps you make the right choices for your future.
With detailed breakdowns and advanced features like salary growth, tax benefits, and inflation adjustments, this tool provides an accurate estimate of your retirement savings, ensuring you’re prepared for life after work.
FAQs
Q: What is EPF?
EPF stands for Employees’ Provident Fund. It is a retirement savings scheme where both the employee and the employer contribute a portion of the employee’s salary to the fund. This amount earns interest and is withdrawn at the time of retirement.
Q: What is VPF?
VPF stands for Voluntary Provident Fund. It allows employees to contribute more than the mandatory 12% of their salary towards the EPF. This additional contribution earns the same interest rate as EPF.
Q: How is the EPF interest rate calculated?
The EPF interest rate is set by the government and is compounded monthly. For this calculator, we assume a fixed annual interest rate that is applied monthly.
Q: Can I withdraw my EPF before retirement?
Yes, you can withdraw your EPF balance before retirement under certain conditions, such as job change or financial emergency. However, early withdrawals may incur taxes and penalties.
Q: What is the tax benefit under Section 80C?
Under Section 80C of the Income Tax Act, you can claim deductions on your EPF contributions up to ₹1.5 lakh per year. This helps reduce your taxable income.
Q: What is EPS and how does it work?
The Employee Pension Scheme (EPS) is a pension scheme managed by the EPFO. It provides a monthly pension to employees after retirement based on their contributions and years of service. The employer contributes towards EPS.
Additional Features to Explore
Export to CSV
After calculating your EPF & VPF returns, you can export the results into a CSV file for further analysis or record-keeping.
Responsive Design
Whether you’re using a desktop or mobile, our calculator adapts to your screen size for a seamless experience.
No Registration Required
You can start calculating right away without the need to sign up or provide personal information.
The EPF & VPF Calculator is an essential tool for anyone planning for retirement. By entering your basic salary, EPF contribution details, VPF amount, and more, you can visualize your retirement savings growth and ensure you’re on the right path to financial security. Make sure to consider salary increments, inflation, and tax effects to get a holistic view of your future savings.
Start using the calculator now to get a clear estimate of your EPF & VPF returns and pension benefits!