Provident Fund (PF) Calculator

Provident Fund calculator computes of future savings based upon your monthly investment (min 12% of salary), employer’s contribution (3.67% to EPF + 8.33% in EPS), interest rate (8.1% currently) and time horizon of investment (depends upon retirement age-58 years). 

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What is Fintra's Provident Fund (PF) Calculator? 

Fintra's PF Calculator is an online investment return assessment tool that has been created to assist you to determine the total provident fund return once you reach the retirement age. Current age, retirement age, current EPF balance, monthly basic pay, monthly dearness allowance, monthly EPF contribution in percentage, and expected salary hike in percentage are the main factors used while calculating the total returns you will get at the time of retirement.

Speaking about Taxation, when the employer contributes towards your PF, it won't be taxed from the employee. According to the Indian Income Tax Act under section 80 C, one can avail tax exemption for Provident Fund contribution up to 1 Lakh. For online calculation, our Provident Fund Calculator will be an essential tool to determine the Total Provident Fund amount at the time of your retirement. 

Provident Fund Calculator – How to Calculate balance?

PF Balance is calculated by adding the contribution of the employer and employee. The employer contributes 12% of the salary and employee contribution is 3.67%. Depending on the basic pay of the employee, it's decided whether the 12% contribution of the employer should be calculated on the basic pay or gross salary. For example, if the basic pay is less than Rs.6,500, then you have to calculate it on gross salary, and if the basic pay is higher than Rs.6,500, then calculate it on basic pay. 

How to use Fintra's PPF Calculator?

To use Finta's PF calculator accurately, you need to provide the following data:

  1. Monthly Income 
  2. Monthly Dearness Allowance
  3. PF Interest Rate per annum 
  4. Monthly contribution to PF 
  5. Employers monthly contribution 
  6. Time remaining for retirement 

When all data has been filled in into the PPF calculator, click on “Submit” and instantly results will be shown beside the calculator.

FAQs about Provident Fund (PF)

How to check the Provident Fund (PF) balance?

Step 1. Visit the government EPF portal

Step 2. Select your location (state, regional branch office) of your PF office

Step 3.Complete the online form by filling in with your personal information and the EPFO account number specified in your pay-slip

Step 4. After verifying the details provided, submit the form

Step 5. Once all your details have verified, you will receive the EPF balance as SMS to your registered mobile

What are the rules for Provident Fund Withdrawal?

You can withdraw PF funds only after retirement, not when you're working, except under some conditions. You can withdraw 75% of the PF deposit after one month of unemployment, and the remaining 25% after two months. On a non-refundable basis, PF can be withdrawn two or three times. You can borrow PF Advance, which is refundable for a maximum six months gross pay. for withdrawal or advance you've to submit the Form 31 UAN, which contain details such as the Universal Account Number (UAN), Permanent Account Number (PAN), date of joining and leaving, etc, to the Employee Provident Fund Organisation (EPFO). 

Along with Form 31 UAN, you must also apply for Form 10C if you also desire to withdraw the pension amount. Both forms are separate because both are managed by separate bodies, Employee Provident Fund Organisation (EPFO) and Employee Pension Scheme (EPS). For full withdrawal after retirement, the EPF complete withdrawal Form 19 has to be duly filled as well and submitted to EPFO.

What is the online PF Withdrawal Procedure?

  1. Log in to UAN Member Portal with UAN and Password
  2. From the top menu bar, click on ‘Online Services’, and select ‘Claim Form 31, 19 and 10C’ from the drop-down menu
  3. You'll have to verify your bank account and then proceed to ‘Claim Online’
  4. After hitting on ‘PF Advance Form 31, fill in the details on the new form that opens up. Once the form has been filled up, the employer has to approve your withdrawal request. Later on, click ‘Form 19’ for full withdrawal after retirement
  5. Once done, you'll receive an SMS to your registered mobile number with UAN, and the funds will get credited in 15-20 days to your account from PF account
  6. You can check the status of EPF withdrawal by logging into UAN account and selecting ‘Track Claim Status’ in ‘Online Service’

What is the offline Withdrawal Procedure? 

When applying offline, you have to claim the Composite Form (Form 31, 19 & 10C) that serves the purpose of three forms.

What are the three types of Provident Funds?

The types of PF are Recognized Provident Fund, Unrecognized Provident Fund, and Statutory Provident Fund.

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