EPF Calculator Online | Calculate Total Funds in Provident Fund with Interest

Описание: EPF Calculator Online | Calculate Total Funds in your Provident Fund Account before Retirement
In this video by FinCalC TV we will see EPF Calculator online to check total interest in our provident fund account and how much total funds we will get in EPF before retirement in hindi.
Also we will use EPF excel calculator in this video to verify the numbers.

EPF Calculator Online:
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Download EPF Excel Calculator:
https://fincalc-blog.in/epf-excel-cal...

How to Check EPF Passbook:
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CHAPTERS:
00:00 EPF Calculator Online Intro
01:30 Employee & Employer Contributions
02:28 How to use EPF Calculator [EXAMPLES]
06:29 How Total EPF Fund is calculated?
07:13 Using EPF Excel Calculator
08:55 Monthly Interest Calculation in EPF
11:10 Using Annual Salary Increment option
15:06 Provident Fund Calculator Conclusion

WHAT IS EPF?
The Employees Provident Fund (EPF) is a savings scheme introduced under the Employees Provident Fund and Miscellaneous Act, 1952. It is administered and managed by the Central Board of Trustees that consists of representatives from three parties, namely, the government, the employers and the employees.

The Employees Provident Fund Organization (EPFO) assists this board in its activities. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labor and Employment.

EPF scheme aims at promoting savings to be used post-retirement by various employees all over the country. Employees Provident Fund or EPF is a collection of funds contributed by the employer and their employee regularly on a monthly basis. The employer and employee contribute 12% each of the employee’s salary (basic + dearness allowance) to the EPF. These contributions earn a fixed level of interest set by the EPFO. The amount of interest to be received on the deposit along with the total accumulated amount is totally tax-free, i.e. the employee may withdraw the entire fund without worrying about paying any kind of tax on it, if total years of service is more than 5 years.

The accrued amount may also be withdrawn by the nominee or the legal heir of the employee post his death or can be withdrawn by the employee himself post-resignation.

Dearness Allowance: This amount is added to the employee’s basic salary due to rising. This allowance is different in different states. It is a relief given to employees to tackle ill-effects of inflation.

WHAT IS EPF INTEREST RATE?
Currently for FY 2022-23, interest rate in Employee Provident Fund (EPF) is 8.10%

HOW IS EPF INTEREST CALCULATED?
The interest extended on EPF schemes is calculated each month and is calculated by dividing the rate per annum by 12.

Such a method helps to calculate the specific interest that is offered to member employees for a given month.

HOW MUCH PF WILL I GET ON 15000 SALARY?
Based on above calculator, if your monthly Basic pay + DA is Rs. 15,000, employee’s monthly contribution will be Rs. 1,800 and employer’s monthly contribution will be Rs. 551.

And based on your current age and retirement age in above calculator, you can get the total funds accumulated in your EPF Account.

BENEFITS OF EPF?
Capital appreciation: The PF online scheme offers a pre-fixed interest on the deposit held with the EPF India. Additionally, rewards extended at maturity further ensure growth in the employees’ funds and accelerate capital appreciation.

Corpus for Retirement: Around 8.33% of an employer’s contribution is directed towards the Employee Pension Scheme.

Emergency Corpus: An EPF fund acts as an emergency corpus when an individual requires emergency funds.

Tax-saving: Under Section 80C of the Indian Income Tax Act, employee’s contribution towards their PF account is deemed eligible for tax exemption.

Easy premature withdrawal: Members of EPF India are entitled to avail benefits of partial withdrawal.

#epf #providentfund #fincalc

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