By using EPF calculator, salaried employees can calculate their savings with accuracy and know how much pension they will get after retirement.
If you are a salaried employee and are about to retire, you can get Rs 7,200 as pension every month after retirement. Now you must be thinking that after retirement, how will you get a pension of Rs 7,200 every month and how to calculate it, then let us tell you that both public and private sector employees are considered eligible for post-retirement pension. That’s why employees get pension after retirement .
Employees’ Provident Fund (EPF) was created when the Parliament approved the EPF Act. The funds contributed to the Employer and Employee Permanent Account are managed by the EFPO. This is known by a unique account number (UAN number), as per the law. Using the EPF calculator, salaried employees can calculate their savings with accuracy.
Employees are required by law to contribute 12% of their basic monthly salary plus EPF. The employer is then compelled to contribute in like manner. Money is deposited by both the employee and the employer in the Permanent Account identified by UAN or Unique Account Number. EFPO oversees all the employees of India and fully monitors their PF account. With the help of EPF calculator, you can calculate your savings correctly.
Calculate your savings like this
First enter your basic salary and your age.
Then the employer’s contribution (EPS+EPF), total interest received, and total maturity amount will be shown.
How does the EPF calculator work?
Every employee of India contributes 12 per cent of his basic salary and dearness allowance to the EPF account every month. For example the employee’s contribution will be 12% of Rs.60,000 i.e. Rs.7,200. That is, after retirement, you will continue to get Rs 7200 as pension throughout your life.
