Effortlessly calculate your crypto taxes using our intuitive Crypto Tax Calculator. Stay organized and stay compliant with accurate tax figures.

Crypto Tax Calculator: Simplify Your Taxes | TaxNodes

The rate of taxation directly impacts returns on investments. Hence, one of the essential elements that you must consider while making an investment decision is taxation. Cryptocurrencies are the latest and most popular investment alternatives among the many options available nowadays. 

Recently, there have been a rising number of investments and transactions in cryptocurrencies due to increased risk tolerance and investor awareness. Therefore, the government has introduced structured taxation norms and means to regularize crypto-related transactions.

Cryptocurrency is a digital asset with a unique code that may be purchased, sold, or traded online. Each cryptocurrency investment is kept in a digital wallet that can be accessed using a private key, making it simpler to track, store, and trade. 

While discussing the financial budget for FY 2022–23, the government enforced taxes on cryptocurrencies due to the growing popularity of cryptocurrencies in India. Herewith, as per the provisions under Section 115BBH, income earned from cryptocurrency transfers is taxed at a flat rate of 30% without deducting any costs other than the acquisition cost.

Irrespective that the person has earned short-term or long-term capital gains, they must pay taxes on cryptocurrency transactions. Additionally, an individual must pay a cess of 4% on top of the flat rate of taxes implied.

For investors unfamiliar with the taxation norms and cess fees, calculating the final taxes applicable to cryptocurrencies takes a lot of work. Therefore, an investor can use the crypto tax calculator tool to calculate taxes on cryptocurrencies easier. 

A cryptocurrency tax calculator is a financial tool that estimates the value of taxes payable on the net proceeds from cryptocurrency transactions. With this tool, the possibilities of human errors and prolonged person-hours for calculation are significantly eliminated.

To calculate taxes levied on your crypto holdings, you must deduct the purchase price from the selling price of your cryptocurrencies to determine the revenue generated from cryptocurrency investments. 

Income from a Cryptocurrency = Transfer Value of Crypto - Cost of Acquisition

After that, calculate the tax amount applicable by deducting 30% from the net proceeds earned. Moreover, in addition to the 30% tax, you have to pay a cess of 4% of the taxed amount.

Purchase Price of a Cryptocurrency: Rs. 50,000 

The selling price of the Cryptocurrency: Rs. 70,000 

Tax Amount: 30% at Rs. 20,000 = Rs. 6,000 

*Note - No set-off of losses is allowed in Crypto. This means if you have earned a profit from your Bitcoin trading and make a loss while trading Ethereum, you must pay taxes on your Bitcoin profit.

The tax rate on net income earned from cryptocurrency is 30%. Additionally, a cess of 4% of the tax amount has to be paid in addition to the 30% tax. However, the investor does not have to pay any taxes in the event of a loss on the sale of cryptocurrency.

The following are the steps to utilize a cryptocurrency tax calculator:

Enter the amount received from the sale of your cryptocurrency holdings.

Enter the initial investment amount, i.e., the acquisition cost.

Your net profit from crypto investments will be shown along with the tax you must pay per the taxation norms under Section 115BBH.


Cryptocurrency is exceptionally preferred among young and risk-taking investors who want to increase their returns by taking more significant risks. After the government introduced regulatory laws, any uncertainty regarding the taxation of cryptocurrencies was eliminated. 

As a result, using a crypto tax calculator can make calculating your tax liabilities easier while saving time and removing the hassles of manual calculations. Also, it will support individuals in analyzing their financial budget and tax planning.

Loan Amortization Calculator

Generally, individuals seek out different kinds of loans. However, whether you use them to buy a home, a car or a personal loan for other purposes, most loans have two things in common: they are provided for a specified period, and a predetermined interest rate is charged over your payback period.

Consequently, by understanding the loan amortisation schedule, you will be better positioned to make sensible financial judgments and wiser choices, such as making extra payments to pay off your loan more quickly.

Divining the loan amount into several predetermined instalments is called loan amortisation. Every monthly instalment payment has two components: a portion that goes towards the principal amount and another towards interest. 

A loan amortisation schedule shows the essential details regarding the loan taken and how the borrower will have to repay it. This schedule typically contains a complete list of all the monthly instalments that must be made during the loan duration. After completing each monthly payment, the borrower is also given the outstanding loan balance due so they may effectively plan for the future and make necessary financial decisions.

When a borrower applies for a loan, three things must be determined: the loan amount, the specified time duration, and the interest rate. After a mutual agreement on these concerns, a payment schedule is prepared with the entire loan amount (including principal and interest) divided into Equated Monthly Instalments (EMI).

As soon as the borrower starts making EMI payments, the loan amortisation process begins, and it continues until the total outstanding amount has been paid off according to the amortisation plan.

Based on the amortisation process, a periodic payment amount for a loan is calculated using an amortisation calculator. The principal loan amount, the agreed interest rate and the loan term are the three main variables that affect the amortisation repayment plan.

The number of payments made throughout the loan will be decided based on the repayment schedule, such as monthly, quarterly or yearly instalments. The loan amortisation calculator creates a table illustrating each periodic payment amount and its principal and interest components.

The total outstanding loan amount mutually agreed interest rate, and the total number of payments made each year are the three main variables that affect how an amortised loan is calculated. 

The mathematical formula for determining loan amortisation is as follows:

‘A’ demonstrates the Periodic Payment Amount

‘P’ refers to the principal amount of the loan taken

‘i’ signifies the agreed interest rate charged 

‘n’ refers to the total number of payments

How can an Amortisation Schedule be helpful?

The information a loan amortisation schedule provides can be used in various ways. For example, early principal payment can be easily made by knowing how much interest you will pay throughout the loan. 

Additional payments to reduce outstanding loan amounts also lower the number of future payments that must be made towards interest. Therefore, even a small payment increase might significantly affect future costs.

Given the vast amount of principal and interest, particularly for home and vehicle loans, making a one-time payment towards the loan repayment might be demanding.

Also, your personal and financial goals may be impacted for years by making significant loan repayments. Thus, you can better organise your money using an amortisation schedule to manage loan repayments. This technique of compensation helps with the management of your debt in terms of priority.

When we consider investments, people usually prefer investing in the stock market. However, many people also think of bonds as a desirable form of investment. Since bonds are recognized for safety and security, many investors include them in their portfolios.

One of the primary elements affecting your investment decision is the return on investment. Hence, before investing in bonds, knowing how much money you'll make is crucial. You can quickly determine both the current yield and the yield to maturity (YTM) by using a bond yield calculator, which makes the process incredibly simple. 

Organizations and governments can raise debt funding from the general public by issuing specific financial instruments called bonds. Notably, the bond market is almost twice the stock market. 

Bond yield (Yield-to-Maturity) is the return an investor receives from a bond. It outlines your potential profits based on the current bond price. Since bond yield is highly volatile to economic factors, we must comprehend bond yield calculators' dynamics and calculation processes.

How to calculate Bond Yield through a calculator? 

The bond Yield Calculator is a mathematical tool enabling issuers and investors to determine the bond yield at a given price. Bond yield calculations depend on several variables, including the issue price, coupon rate, maturity date, principal repayment schedule, etc.

Keeping track of thousands of outstanding bonds is impossible for investors. Thus, a bond yield calculator helps investors since they need to enter a few variables to determine the amount of bond yield quickly.

What are the Benefits of Using a Bond Yield Calculator?

A bond yield calculator makes the process easier for institutions and investors and provides them with immediate measured data. You can use it to determine both the current yield and the yield to maturity. Several advantages of using a bond calculator are as follows:

The bond calculator does more than calculate bond yield. It thoroughly analyses the principal amount, accrued interest and total settlement amounts. Also, you can change settlement dates to suit your cash flows.

The bond yield calculator gives customers access to essential bond information like current cash flow calculations. As a result, investors can promptly estimate the bond yield and price.

You can easily compare and switch between bonds using the bond calculator. It enables you to make an informed decision by comparing the yields generated by thousands of bonds. 

What Determines the Percent Yield on Bonds?

Bond yield is the rate of return on the capital invested in a bond. Generally, bond yield is influenced by several variables, such as:

Issue Price, i.e., the cost at which the issuer sells a bond

Par or Face Value, i.e., how much the bond will be valued when it matures

Coupon Rate, i.e., the interest rate on the bond, which is expressed as a percentage of the bond's face value 

Maturity date, i.e., the date on which the issuer gives the bondholder the face value of a bond

When utilizing a bond yield calculator, you need to enter some essential variables, such as the current price, face value of the bond, coupon rate and tenure (in years). Then, the online tool will promptly calculate the current yield and yield to maturity (YTM) amount.

Trading in the bond market requires an understanding of bond yields. You can better decide which bonds are suitable for investments if you have the relevant information. Bond yields can also be used as a benchmark for future changes in the bond and equities markets. 

However, manually calculating the bond yields can take a lot of work for investors. As an alternative, you can save time by using a bond yield calculator to quickly and reliably determine the yield or price of a bond.

Bond Yield Calculator

A Debt-to-Income (DTI) ratio calculator is a tool that helps you assess your financial health by comparing your monthly debt payments to your monthly income. Our DTI calculator will calculate your DTI ratio and give you an idea of how much of your income is going towards paying off your debts, allowing you to make informed decisions about your finances.

Debt to Income Ratio Calculator

Personal loans are a standard financial instrument for many people to pay off debt, finance home improvements, cover unexpected medical expenses, or consolidate debt. But, it's crucial to comprehend how your debt-to-income ratio affects your loan application and approval before taking out a personal loan. 

What is the Importance of the Debt-to-Income Ratio?

The debt-to-income ratio, or DTI, is the portion of the pre-tax monthly income used to pay off debt. This ratio covers mortgage, vehicle loans, and credit card debt.

Lenders use your DTI to calculate how much money to lend you and what interest rate to charge. They want to ensure you are not already overly indebted and can repay your loan installments.

How to Calculate Your Debt-to-Income Ratio?

The formula to calculate the Debt-to-Income Ratio is as follows:

Debt-to-Income ratio = (Monthly Debt Payments/ Gross Income) x 100

Rent or mortgage, credit card bills, medical and dental costs, vehicle loans, child support, and other expenses are among the debts that require monthly payments.

A person's gross income is before any deductions for taxes and other expenses.

For instance, a person currently pays 60k monthly for their mortgage and 10k in other debts. If the monthly gross income of the person is two lakhs, then the debt-to-income ratio will be 35%

Debt-to-Income Ratio = ((60000+10000)/200000) x 100 = 35%.

A 36% debt-to-income ratio is typically seen as manageable. Better is lower.

Lenders use the following variables to calculate the DTI ratio:

The Front-end DTI ratio tells you how much of a person's income goes towards paying their mortgage. The front-end DTI ratio calculates a person's housing expense as a percentage of their gross income.

Back-end DTI ratio: The back-end DTI ratio calculates the percentage of an individual's gross income that goes towards paying off other obligations, such as credit card debt, vehicle loans, and student loans.

What is the Impact of the Debt-to-Income Ratio on your Credit Score?   

The credit scores are unaffected by your debt-to-income ratio; although credit-reporting companies may know your income, they do not factor it into their computations.

However, your credit usage ratio, or how much of your available credit you use, affects your credit scores. So, increase your income or monthly loan payments to lower your debt-to-income ratio.

What are the Ways to Improve Your Debt-to-Income Ratio?

Lenders consider your debt-to-income ratio a significant criterion to determine if you can afford additional debt and make other monthly payments. Knowing and improving your debt-to-income ratio is crucial because it might mean the difference between getting credit authorized or denied.

Create a list of the monthly debt payments you make. Then, pay off that debt first to reduce your DTI and credit utilization ratio. Alternatively, you can reduce that amount by lengthening the payback period. Use a debt-to-income calculator to pay off first and to know how much interest you'll save. Generally, your DTI ratio is optimized whenever you pay more than the required minimum.

Although it's not as simple as wishing it were, employers generally don't want you to quit or believe they are mistreating you, just as lenders don't want you to default.

An essential indicator of financial health is the debt-to-income ratio. When you borrow money, lenders can assess your capacity to repay them using your DTI; the smaller this percentage, the better your chances are of getting accepted at favourable interest rates. As you assess your debt-to-income ratio, use a free personal loan calculator. If you're having trouble paying off your debts, consider getting assistance from a nonprofit credit or financial adviser debt counsellor.

Take the hassle out of FD calculation with our reliable FD Calculator. Easily calculate your fixed deposit returns for optimal financial planning.

FD Calculator: Secure Your Savings | TaxNodes

Do you have idle funds in your bank account that you wish to grow? Or perhaps you have a short-term goal in mind that you need to save up for? In either case, a fixed deposit (FD) might be the solution you are looking for. But what exactly is an FD, and how can you make the most out of it?

In simple terms, a fixed deposit is a type of investment where you deposit a sum of money in a bank or financial institution for a fixed period, usually from a few months to a few years. During this time, the money earns a predetermined fixed interest rate when opening the FD. As a result, the interest rate is usually higher than the savings account interest rate, and you are guaranteed to receive the interest and principal amount at maturity.

What are the benefits of using an FD Calculator?

An FD Calculator helps determine the maturity value of your fixed deposit accurately and quickly, without any guesswork. This allows you to plan your finances more efficiently.

It helps compare the interest rates offered by different banks and financial institutions and choose the one that best suits your investment needs. This way, you can maximize your returns on investment.

With an FD Calculator, you can experiment with different investment tenures and interest rates to see the impact on the maturity value of your fixed deposit. This lets you make an informed choice based on your risk appetite and financial goals. 

It also helps avoid any errors or miscalculations while manually calculating the maturity value of your fixed deposit. This ensures you don’t miss out on any interest income and get the maximum benefit from your investment.

Overall, an FD Calculator is a powerful tool that can help you make smarter investment decisions and achieve your financial goals more efficiently. It is a must-have for anyone looking to invest in fixed deposits.

1. Formula to Calculate FD based on Simple Interest:

The formula to calculate the maturity amount of a Fixed Deposit (FD) with simple interest is as follows:

For example, suppose you deposit Rs. 50,000 in an FD with a simple interest rate of 6% per annum for 3 years. The maturity amount can be calculated as follows:

  M = 50,000(1 + 0.06 x 3) M = 50,000(1.18) M = Rs. 59,000

2. Formula to Calculate FD based on Compound Interest:

The formula to calculate the maturity amount of a Fixed Deposit (FD) with compound interest is as follows:

n = Number of Times when interest is compounded within a year 

For example, suppose you deposit Rs. 50,000 in an FD with a compound interest rate of 6% per annum, compounded quarterly for 3 years. The maturity amount can be calculated as follows:

M = 50,000(1 + 0.06/4)^(4 x 3) M = 50,000(1.015)^12 M = Rs. 59,167.50

Using the Taxnodes’ FD Calculator is extremely easy. You can get your desired data in 3 simple steps. Here is how you can do it:

Step 1: Enter the principal amount you want to set aside as your FD. 

Step 2: Enter the interest amount offered by the Bank. The average is 6-7% per annum

Step 3: Enter the tenure for which you want your FD to continue

And voila! The Taxnodes’ FD Calculate the maturity amount with the estimated return value, and this is how the final result will look:

Why should you use an FD Calculator in India?

Here are a few advantages of using an FD Calculator in India:

You can have the estimated value of the exact amount that you will be receiving once your FD matures

Taxnodes’ FD calculator is free to access by all our registered users

Get a detailed pie chart of the Investment: Return ratio, which will help you determine the value of your FD 

Compare the maturity amount offered by different banks and decide where you would like to invest your money

Taxnodes’ free FD calculator is an excellent tool for anyone interested to invest in Fixed Deposits. With its user-friendly interface and accurate calculations, this tool can help investors plan their investments efficiently and maximize their returns.

Its simplicity and ease of use set Taxnodes’ FD calculator apart from its competitors. The calculator is accessible to everyone, regardless of their level of financial expertise, and it provides users with a comprehensive overview of their investment. Furthermore, the tool is entirely free, making it accessible to anyone who wants to make informed investment decisions. So, what are you waiting for? Give the Taxnodes’ FD calculator a try, and share your experience with us!

Retirement planning is an essential aspect of life that everyone should consider. As we get older, our ability to work and earn an income may decrease, making it necessary to have a plan for our financial future. Retirement planning isn't about saving money; it's about creating a roadmap for your retirement years, so you can enjoy the lifestyle you want without financial worry. 

Whether starting your career or nearing retirement age, it's always early enough to begin considering retirement planning. A retirement calculator is a helpful tool that enables you to calculate the amount of savings required to ensure a good retirement.

An online tool called a retirement calculator can assist you in estimating the amount of savings you'll need to amass to reach your retirement objectives. It contains factors such as your current age, retirement age, desired monthly income, and expected inflation rate to estimate the retirement corpus you need to accumulate accurately.

With a retirement calculator, you can structure and organize your financial planning and see how inflation will affect your retirement resources. It gives you a direct idea of the monthly amount you need to meet your retirement goals and aids in the decision-making process for your investment portfolio.

A retirement calculator will provide a realistic estimate of your retirement corpus by accounting for the potential value decay of your assets caused by inflation over time. Most calculators are available online and accessed from anywhere, anytime. All you need to do is input your financial information, and the calculator will generate an estimate of the retirement corpus you need to accumulate.

Retirement Calculator Working with Example

Here's how you can calculate using this formula:

Let's assume you are currently 40 and plan to retire at 65. You have estimated that you will require a monthly income of Rs. 50,000 to meet your expenses during your retirement years(inflation = 6%). Therefore, to complete your retirement expenses, you would require a monthly income of Rs. 1,43,000.

Here are the various benefits of a retirement calculator:

A retirement calculator helps you plan your retirement in an organized manner. For example, when you provide your financial information, the calculator can accurately estimate the retirement corpus you need to accumulate.

A retirement calculator considers the impact of inflation on your retirement savings. It provides a realistic estimate of your retirement corpus by adjusting for inflation, which can help you plan for a comfortable retirement.

Some online retirement calculators suggest the best plans that suit your financial goals. This calculator can help you make informed decisions about your investment and choose the one that aligns with your goals.

A retirement calculator can help you track your progress towards your retirement goals. The calculator can show you how close you are to achieving your retirement goals and help you make necessary adjustments.

A retirement calculator can project your expenses in retirement and provide you with an estimate of the corpus you need to build for a secured future. 

As it's known, retirement planning is a crucial part of managing your finances, and a retirement calculator is an excellent tool. Using this calculator, you can determine the corpus you need to create, how much money you need to save, and the investment options that best meet your financial objectives.

It provides a straightforward comparison of your savings and retirement objectives which may help you determine how prepared you are for retirement.

They are easily accessible and help you feel confident enough to make financial decisions to allow you to enjoy your golden years without worrying about money. So, why are you still waiting? Use a retirement calculator today and take control of your financial future.

Retirement Calculator

Take control of your investments with our user-friendly SIP Calculator. Plan and estimate your returns to achieve your financial goals.

SIP Calculator: Plan Your Investments with Ease | TaxNodes

Investing is one of the best methods to stockpile wealth and protect your financial future. Even though the market offers a wide range of investing options, Systematic Investment Plans (SIPs) have grown in popularity over time. SIPs are a well-liked investing option in which participants put money into their accounts in fixed amounts on a monthly, quarterly, or annual basis.

Investing in mutual funds through SIPs has become an increasingly popular investment option, particularly among millennials. To assist potential investors in making informed investment decisions, SIP calculators estimate the returns on mutual fund investments made through SIPs.

A SIP calculator is a valuable tool that enables investors to calculate the returns on their mutual fund investments based on their assets' quantity, duration, and expected yearly returns. Based on these inputs, the SIP calculator will estimate the future value of your investments. Using a SIP calculator can help you plan your investments better.

One of the most significant advantages of using a SIP calculator is that it is incredibly efficient in automatically computing complex financial calculations so that investors do not spend hours manually calculating investment returns. The tool is also user-friendly, making it accessible to more investors.

The SIP calculator is a relatively simple tool to use. First, you must input the money you want, and the period you wish to invest it. You then need to select the investment type you want to make. This investment could be in stocks, mutual funds, or fixed-income instruments like bonds.

Once you fill in these details, the SIP calculator will calculate the investment's potential returns. This calculation is based on the rate of return for the acquisition, the investment horizon, and the frequency of contributions. 

The rate of return is the rate of growth investors can expect from the investment over the specified period. The investment horizon is how long the investor wishes to invest, and the frequency of contributions is how often the investor will make payments into the investment account.

Suppose you want to invest Rs. 5,000 monthly for ten years in a mutual fund with an average return of 12%. Then, using a SIP calculator, you can find out the future value of your investment. 

Assuming that the mutual fund will continue to provide an average return of 12%, your investment of Rs. 5,000 per month for ten years will grow to approximately Rs. 11.58 lakhs.

To understand how the SIP calculator works, you can use the following formula:

Here are some benefits of using a SIP calculator:

SIP calculators provide quick and accurate results of the future value of your investments, saving you time and effort from crunching numbers.

SIP calculators are easy to use, and anyone can operate them with minimal knowledge of finance. You only need to input a few details about your investment, and the calculator will provide you with the estimated returns.

A SIP calculator helps you plan your investments by providing an estimated return on your investment based on the amount and duration of the investment.

With the help of a SIP calculator, you can make informed investment decisions by quickly determining the amount you need to save to achieve your investment goal.

A SIP calculator allows you to experiment with different investment amounts, frequencies, and durations to find the best plan that suits your needs and goals.

A SIP calculator enables you to compare the returns of different mutual funds and make an informed decision.

A SIP calculator can help you set achievable financial goals by calculating the required investment amount and duration to achieve them.

SIP Calculator is essential for any investor looking to invest through SIP. It helps you make informed investment decisions, plan your investments better, and provide a more efficient roadmap to your financial goals.

You can compare different investment options using a SIP Calculator. You can also assess the impact of varying investment amounts, frequency, and terms.

By providing accurate data, your SIP calculator can help you make better investment decisions, leading to better outcomes and greater certainty. So why not try it and discover how it can help your financial success?

HRA, or the House rent allowance, is essential in every salaried person's life. HRA is an allowance the employer offers to its employees as compensation for the house rent paid by the employees. HRA is a component of the employee's salary. All the salaried employees who live in rented accommodation can show it as proof to save on their taxes. 

With the help of the HRA calculator, you can determine what portion of your HRA will be tax exempted and on what percentage you will need to pay the taxes.

How much HRA is exempted, and how is it calculated?

This article is for you if the entire HRA will be tax exempted. The whole HRA amount that your employer offers you is not permanently exempted. Nonetheless, it would be ideal if you focused on the least important of the following three:

10% dedication from the salary from the actual rent paid.

For people living in metro cities, 50% of the basic salary.

For those living in non-metro cities, 40% of the basic salary.

Once you consider the least three, the remaining amount is added to your salary as taxable income. 

Employee A stays in New Delhi and receives Rs. 1 lakh as HRA from his employer. His per month basic salary is Rs. 50,000, and his rent for his house is Rs. 15,000. Now, let's figure this out from the above statements.

Actual rent - 10% - (15,000*12 = 1,80,000) - 10% (50000*12 = 6,00,000, that will be 60,000) = 1,80,000 - 60,000 = 1,20,000

50% of the basic salary since he is staying in a metro city - 50% (50000* 12 = 6,00,000 and 50% will be 3,00,000)

So, A will get an exemption of Rs. 1,00,000 from his salary under section 10 (13A).

The first criterion to fulfil for using an HRA calculator is that the employee needs to be a salaried one and not a self-employed individual. Additionally, it would be best to have your HRA as a part of your salary exceeding 10% of your salary. Once all these conditions are met, you can use the HRA calculator for the following reasons:

With the help of the HRA calculator, you can determine which cities are more expensive to reside in and which are not. 

The HRA exemption calculator will also help you understand how much tax you must pay.

Once you know the amount you will need to pay as tax, planning for things you wish to do will be easier.

Moreover, with the help of the HRA calculator, you will never have calculation errors as it is straightforward. First, enter the HRA amount and the basic salary from your salary slips and then scroll down to choose meteor or non-metro city. Then, the calculator will make all the calculations and tell you the amount you must pay as tax.

Every salaried person worries about the tax they must pay at the end of the financial year. However, most of the time, we still determine the amount and are left with a meagre salary after all the tax deductions. In such cases, you can have an unplanned month and bills to take care of. To avoid such chaos, use an HRA calculator to determine how much tax you must pay and how much will be exempted under HRA.

HRA Calculator

Plan for your retirement with ease using our PF calculator. Estimate future savings, track contributions, and make informed financial decisions at TaxNodes.

PF Calculator: Secure Your Retirement | TaxNodes

If you work in a private company, you must know about PF or the provident fund. PF is a significant saving scheme by the government where you are guaranteed an amount with an interest rate fixed by the Indian government. It is the amount your employer deposits for you and your contribution. But do you know how much you will get as your PF amount once you retire? Let's read on. 

The EPF, or the employee provident fund, is the retirement benefits scheme given to salaried employees in the private sector. As an employee, you will contribute 12% of your basic salary, and your employer will also contribute the same amount. Any firm with more than 20 employees will need to deduct EPF. Currently, the interest rate fixed by the government for EPF is 8.1% for FY22.

Of the 12% contribution of your employer, 8.33% goes to the employee pension scheme account, and the remaining 3.67% goes to the employee EPF account. As an employee, you can contribute 100% of the basic salary as a voluntary provident fund, but your employer will continue to donate 12% of your basic amount only.

PF calculator is an efficient way of knowing how much money you have saved in your account so far. It is also a way of figuring out your post-retirement plans since you will see an amount you will guarantee to receive. Below are some more ways in which a PF calculator can help you:

You will save effort in manually contributing your calculations.

The PF calculator will give you accurate information about the total amount you have or will hold.

You won't have to keep track of the current interest rate as the PF calculator will constantly be updated with the rate fixed by the government for that financial year.

You must enter specific details in the form to use a PF calculator. The details will be as follows:

Once you enter the details, you will get an amount you will be getting as your PF amount. In this form, the interest rate will be auto-filled, and you will not have the option to change it.

Apart from the fact that you will get to know what is the amount you will save as your PF amount, here are some other benefits of using a PF calculator:

You can plan for a better retirement, including planning to invest, buying a property or fulfilling your long-pending dream if you know the amount you will receive post-retirement.

You can also check how much money will accumulate if you increase your contribution to the EPF.

You will only have done a few calculations, and within seconds, you will know the amount.

Now, you don't have to work for more years and plan to retire sooner by contributing more by checking how much it will make using a PF calculator.

Who doesn't like savings and especially after getting retired? Using a PF calculator makes it easy to figure out the amount you will get post your retirement and plan your second innings accordingly. After all, you have worked hard to live a happy and successful life, so your retirement should be the same.

If you feel that the amount you would be making is less, check by increasing your contribution amount using the calculator and see the difference it will make.

If you look around, everything costs more now than it did when you were a child. The reason is that the value of money fluctuates frequently and sometimes tends towards inflation. All dimensions of the economy are impacted by inflation, including consumer spending, company investments, employment rates, government initiatives, tax laws and investment returns. Therefore, understanding inflation is essential since it can lower the value of returns on your investments.