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15000 the employer contribution will be calculated on Rs.

14,500 including Dearness Allowance.Įmployee Contribution: 12% x 15000 = Rs.1,800/-Īccording to the Law, the 12% Employer contribution will be divided into 2 parts: 8.33% to EPS 3.67% to Employee Provident fund.Įven if the employees Basic including DA is less than Rs. Example When Basic + DA less than or Equal To Rs. Whereas the remaining 8.33% of the employer contribution goes to the Employee Pension Scheme. The entire 12% of the employee contribution along with 3.67% of the employer goes to the EPF account. Minimum Contribution amount is 12% of Rs. Both contribute 12% of the employee’s basic salary including dearness allowance. The Employee Provident Fund is built with monetary contributions by both employees and their employer from the salary every month. Furthermore, employees having a salary above the prescribed limit can register for EPF with prior permission from the Assistant PF Commissioner and mutual acceptance between the employee and his employer. It is obligatory for the employees with a salary below Rs 15000 per month to register for EPF. Registering with EPFO is mandatory by the labor law for all organizations with more than 20 employees to register with the EPFO. This rate changes according to decisions made by EPFO.

Employees can use it in the event either they are unemployed, unable to work, or at the time of retirement.Īs an employee, we would like to know how much provident fund has been accumulated during the years of service.įor the Financial year 2019-2020, the pre-fixed rate of interest offered by the EPF scheme is 8.55%. EPFO is the Employees Provident Fund Organisation of India.ĮPF is a saving platform that helps employees to save a proportion of their salary every month. Contents of Employee Provident Fund CalculatorĮPF is a retirement benefits scheme available for all salaried employees introduced by the EPFO under the supervision of the Government of India.Download Employee Provident Fund Calculator Template.Example When Basic + DA Greater Than Rs.

Example When Basic + DA less than or Equal To Rs.