Post-retirement benefits are available to workers in both the public and private sectors. When the EPF Act was approved by Parliament, the Employee Provident Fund (EPF) was established. In accordance with the law, the EFPO manages the money that an employee and employer contribute to a permanent account. The EFPO is identified by a Unique Account Number (UAN). Employees can accurately calculate their savings using an EPF calculator.
By law, employees are required to contribute 12% of their deferred compensation and basic monthly salaries to the EPF. The employer is then obligated to make similar contributions.
The Employees Provident Fund Organization of India (or EFPO) is in charge of overseeing the funds that are deposited by both the employer and the employee into a permanent account that is identified by a UAN, or Unique Account Number. Using an EPF calculator, you can accurately determine how much money you have saved.
How can the EPF calculator be used?
Enter your age and basic salary.
The results will show the total maturity sum, total interest earned, and employer contribution (EPS+EPF).
What is the EPF calculator’s operation?
Each month, the worker deposits 12 percent of their base salary and Dearness Allowance into the EPF account. For instance, assuming there is no DA, the employee contribution will be 7,200, or 12 percent of Rs 60,000.
