Provident Fund Calculator
Provident Fund (PF) – Complete Guide
PF Calculation & Contributions
How is PF calculated?
PF contributions are calculated as a percentage of basic salary:
- Employee Contribution: 12% of basic salary (mandatory)
- Employer Contribution: 12% of basic salary (3.67% to PF + 8.33% to EPS)
Example: For ₹20,000 basic salary:
- Employee contributes ₹2,400/month
- Employer contributes ₹2,400 (₹734 to PF + ₹1,666 to EPS)
PF Balance & Account Management
How to check PF balance?
- EPFO Portal: Login with UAN & password
- UMANG App: Government’s official app
- SMS Service: Send SMS to 7738299899
- Missed Call: Call 011-22901406 from registered mobile
How to transfer PF?
- Online transfer via EPFO portal using UAN
- Automatic transfer for linked accounts
Interest & Withdrawals
Current PF Interest Rate: 8.15% (2023-24)
Interest Calculation:
- Calculated monthly on running balance
- Compounded annually
- Credited at year-end
Withdrawal Rules:
✅ Permitted Cases:
- Retirement (after 58 years)
- Unemployment (after 2 months)
- Home loan/construction
- Medical emergencies
- Marriage/education
❌ Conditions Apply:
- 5 years minimum service for tax-free withdrawal
- Partial withdrawals allowed for specific needs
Key PF Components
EPF vs EPS:
| Feature | EPF | EPS |
|---|---|---|
| Contribution | Employee + Employer | Employer only (8.33%) |
| Withdrawal | Fully withdrawable | Pension scheme |
| Tax | Tax-free after 5y | Taxable |
UAN (Universal Account Number):
- 12-digit lifelong number
- Links multiple PF accounts
- Required for all online services
Tax Implications
Tax Treatment:
- Employee Contribution: Deductible under Section 80C (₹1.5L limit)
- Employer Contribution: Taxable as perquisite
- Interest: Tax-free if contributed for ≥5 years
Note: TDS deducted if withdrawn before 5 years of continuous service.