Table of Contents
How can I calculate my PF amount?
To understand how the EPF calculator works, let us have an example. Employers contribution towards EPS = 8.33% * 14,000 = Rs 1,166. The total contribution by the employer and employee towards the EPF account of the employee = Rs 1,680 + Rs 514 = Rs 2,194.
What is the PF amount for 50000 salary?
Rs. 6,000
50,000 a month. Employee’s contribution is 12% of Rs. 50,000 i.e. Rs. 6,000 and it will go to the EPF.
What was PF rate in 2010?
9.5 per cent
The EPF interest rate saw a temporary rise of 9.5 per cent in 2010-11 but EPFO slashed it again to 8.25 per cent in 2011-12. In 2012-13, it was increased to 8.5 per cent and then to 8.75 per cent from 2013 to 2015.
Is PF 12% of basic salary?
For EPF, an employee contributes 12 per cent of the basic salary while the employer contributes 8.33 per cent towards Employees’ Pension Scheme and 3.67 per cent to employees’ EPF. The total of the employee and employer contribution is deposited in a fund created with the Employee Provident Fund Organization.
How is PF calculated from CTC?
Take Home Salary = Gross Salary – Income Tax – Employee’s PF Contribution(PF) – Prof. Tax. Gross Salary = Cost to Company (CTC) – Employer’s PF Contribution (EPF) – Gratuity. Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.
Is PF mandatory for salary above 21000?
Under the current rules, any company with more than 20 employees must register with the EPFO and the EPF scheme is compulsory for all employees earning less than ₹15,000. The increase in the limit to ₹21,000 will bring more workers under the retirement scheme.
What was EPF interest rate in 2000?
12.00%
4. EPF Historical trends of Interest Rate
| Financial Year | Rate of interest per annum |
|---|---|
| 2005-2010 | 8.50% |
| 2004-2005 | 9.50% (inclusive of Golden Jubilee Bonus of 0.50%) |
| 2001-2004 | 9.50% |
| 2000-2001 | 12.00% April to June 2001, 11.00% from July 2001 |
How much PF is deducted from salary?
You and your employer need to transfer 10% or 12% of your basic salary to contribute towards EPF. However, if you are a woman, you only need to contribute 8% of your basic salary for the first three years. During this period, your employer’s EPF contribution will remain 12%.
How calculate PF if salary is less than 15000?
Contribution made by the employee equals 12% of his/her Basic Pay plus Dearness Allowance (DA). When the Basic Pay + DA is less than or equal to Rs 15000, the employee contribution is 12% of Basic Pay + DA, whereas the employer contribution is 3.67% of the Basic Pay + DA.
What is the roi on PF?
The government reviews the interest rate on EPF accounts regularly. For the FY 2019-20, the interest rate notified is 8.5%….EPF Interest Rates for the Last 15 Years.
| Financial Year | Rate of Interest p.a. |
|---|---|
| 2019-2020 | 8.50% |
| 2018-2019 | 8.65% |
| 2017-2018 | 8.55% |
| 2016-2017 | 8.65% |
How is PF calculated on 18000 salary?
We just need to enter the basic salary of the employee….If Employer also Wants to Contribute Under Voluntary PF Contribution.
| Basic Salary + DA | Employee contribution on : 18000 Rs Employer pension contribution on : 15000 Rs | |
|---|---|---|
| Employer Pension contribution | 8.33% on 15000 /- | 1250 |
| Employer PF contribution | 2160-1250 | 910 |
Is PF mandatory for salary above 25000?
If your starting salary is above 25000 Rs then it is not mandatory to deduct PF. But if you are already a member of EPF and your monthly salary increases to above 25000 Rs then you have to continue your PF contribution, but PF will be calculated on a limit 0f 15000 salary only.
How to calculate PF contribution from basic salary?
Enter the % of basic salary which will be contributed towards PF every month. Enter the % of basis which your existing employer makes towards your PF every month. The term EPF stands for Employee’s Provident Fund. It is a retirement benefits scheme comes under the Employees Provident Funds and Miscellaneous Provisions Act of 1952.
How to use the EPF calculator to calculate your PF amount?
There is also an interest rate that comes into the picture that you need to feed into the EPF Calculator. Enter the % of basic salary which will be contributed towards PF every month. Enter the % of basis which your existing employer makes towards your PF every month.
How much of my salary can I invest in EPF?
An employee can also invest more than the basic 12% of his salary towards the EPF Fund under the provisions of the Volunteer Provident Fund. EPF comes with an array of benefits to the employees.
What is the current rate of interest on PF?
Remember, the interest rate on the PF is fixed by the government and one needs the Ministry of Finance to give its consent. So, this data would change every year. For 2018-19 the government notified an interest rate of 8.65 per cent, which is not bad at all.