Employee Provident Fund (EPF) Calculator – Interest and Maturity Calculation

Employee Provident Fund (EPF) is a retirement benefit scheme governed by Employee Provident Fund Organisation (EPFO). Both employer and employee contribute to the scheme throughout the tenure of the employment. The employee can withdraw the same during retirement. Use PF calculator to estimate the maturity amount that that you will accumulate at the time of retirement. Scripbox's EPF calculator is available online and is free to use.

What is an EPF Calculator?

Employees PF calculator is an online tool that helps in estimating the EPF corpus on retirement. All you need to provide is basic details like retirement age, basic monthly salary, annual expected salary increase and contribution to EPF.

With the estimated value on retirement, you plan your retirement. You can estimate whether or not the corpus created meets your financial need on retirement. Accordingly, whether you need to invest more in other investment alternatives to meet the financial needs.

What is EPF?

Employee Provident Fund (EPF) is a collection of funds that both the employer and the employee contribute on a monthly basis. It is a scheme that provides financial support to all salaried individuals post-retirement.

EPF is the main scheme under the Employees Provident Fund and Miscellaneous Provisions Act, 1952. The Employees Provident Fund Organisation (EPFO) backs this scheme. It is mandatory for an organization that has more than 20 employees to register under the EPF Act.

In an EPF Scheme, an employee has to pay a certain amount from his salary towards the scheme. However, the employer pays an equal amount as well. This amount so contributed on a monthly basis further helps in providing monetary benefit to the employee after his retirement.

EPF is basically a retirement benefit plan and aims to ensure a financially independent retirement.

How to Use Scripbox’s EPF Calculator?

Scripbox’s EPF calculator is an online free tool that helps in calculating the corpus on retirement. This helps an employee to determine the EPF corpus. The PF calculator also helps an employee know how much he should contribute to get a specific return post-retirement. This further helps him/her set the financial goal.

You can determine the potential returns of an EPF account by entering data inputs such as basic salary, current age, retirement age, expected annual increase in salary, and current EPF balance. On the basis of the inputs, the calculator computes the potential returns. It determines the maturity amount.

The Scripbox’s EPF calculator automatically computes the maturity amount and provides the EPF schedule. 


The EPF calculator requires the following inputs.

  • Basic Monthly Salary Investment: The basic salary that you earn.
  • Current Age
  • Retirement Age
  • Average annual increase in salary you expect
  • Current EPF Balance: Mention details of any current EPF balances.


With the given inputs, the PF interest calculator determines the following values:

  • EPF Schedule: Shows the Age, EPF Opening Balance, Monthly Salary (pm), Employee’s Contribution (yearly), Employer’s Contribution (yearly) and EPF Closing Balance (yearly) for the entire investment duration. 
  • Maturity Amount: The maturity amount is the total amount one can expect at the time of retirement from EPF. In other words, it is the value that one can expect at the end of their investment tenure.

Let us understand how to use Scripbox’s PF maturity calculator with the help of an example.

Mr Krish would like to determine his potential returns from EPF investments. He is currently 25 years old, and hopes to retire by 60 years. His current basic monthly salary is INR 25,000. The current employee PF interest rate is 8.15% p.a. and he anticipates a 10% annual hike in salary and his current EPF balance is 0. 

The calculation estimates the following:

  • Krish’s Total EPF Contribution: INR 1,07,68,564
  • Employer’s Contribution to EPF: INR 32,93,389
  • Time Duration: 35 Years
  • Total Contribution: INR: 1,40,61,953
  • Maturity Amount: INR 3,85,23,971

Therefore, Mr Krish’s potential return from EPF investment is INR 39,551,495 by the end of his investment tenure.

EPF Interest Rates 2024

The interest rate is regulated every year by the Central Government of India. The EPF interest rate is reviewed every year after consultation with the Ministry of Finance by EPFO’s Central Board of Trustees. The current EPF interest rate for the is 8.15% p.a.

Though the interest rate is regulated on a yearly basis, it is calculated on a monthly basis. Thus the interest rate is calculated by dividing the per annum rate with 12.

The EPF interest rate for the past 10 years is mentioned below:

Financial YearEPF Interest Rate

Advantages of Using Scripbox’s Online EPF Calculator

The following are the advantages of using the EPF calculator:

  • Estimate Maturity Amount: Using the online EPF calculator, you can estimate the potential maturity amount based on the inputs given by you. 
  • Boost Retirement Savings: In case your retirement corpus is falling short of funds, you can easily identify it by estimating the potential returns through the calculator. 
  • Easy to Use: The EPF calculator is available online and is free to use. Thus you can estimate the maturity amount for different scenarios. 
  • Uses Current Interest Rates: From time to time, Scripbox updates its calculator with the current EPF interest rates. Thus, you don’t have to worry about tracking the interest rate each time you wish to use the EPF calculator. 

Frequently Asked Questions

Is Scripbox’s EPF calculator free to use?

Yes, Scripbox’s online EPF calculator is a free tool that helps is estimating the potential returns from EPF investments.

When can I withdraw money from my EPF account?

You can withdraw the amount upon retirement. Or when you are unemployed for more than two months. However, EPFO also allows you to withdraw money for personal use such as wedding, education, home loan, etc. However, you cannot withdraw more than 50% of your personal contribution. Following are the scenarios when you can withdraw from EPF:
After you completed 7 years of employment service.
Only thrice during the EPF investment period.

Can I use the same EPF calculator even after changing jobs?

Yes, you can use the same EPF calculator to estimate potential returns. You just have to enter the current EPF balance and update your basic salary to get the accurate estimate.

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