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EPF Calculator

Unique online tool Provident Fund Calculator makes it easy to assess the investment return online for the complete estimation of whole provident fund return details upon superannuation age. Important components for calculation are based on the current age and retirement age besides getting details of the EPF balance at present for that thorough information about monthly basic pay as well as dearness allowances and most importantly the EPF contribution done monthly are put together to obtain the percentage. This calculator also includes the percentage of expected pay hikes for effective calculation of the returns in total while one would retire.

Purpose of Provident Fund is to offer economic protection through compulsory funds contribution of an employee for the future needs post retirement and to support the family in case of premature death or once getting superannuated. Both employee and employer equally contributes for such funds to meet the future needs. As calculated the contribution for PF is 12% of the basic salary paid that is contributed from employer and employee. An organization where employee strength exceeds to twenty are bound to follow the Provident fund contribution system.

EPFO - Employees' Provident Fund Organization working under the Labor and Employment Ministry of the Indian Government organizes the Provident Fund which is made applicable under EPF - Employees' Provident Funds and Miscellaneous Provisions Act, 1952. As per its provisions it is necessary to initiate a contributory Provident fund for pension and different insurance schemes to benefit workforces in India. The funds contributed for PF are non-taxable. The Income Tax Act of India exempts such funds under the section 80 C for provident funds contributed up to 1 lakh. Online calculation makes the task easy for calculation so Provident Fund Calculator remains best option for complete estimation of whole Provident Fund amount to be paid while an employee superannuates. There is provision for 8.5% interest on the employee provident fund amount contributed. It is tax free interest income and is more than several other investments done. Applying for loans against employee provident fund is made easy with flexible terms and conditions.

 

EPF India

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