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. 

What is EPF?

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.

How can a PF calculator help?

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:

  1. You will save effort in manually contributing your calculations.
  2. The PF calculator will give you accurate information about the total amount you have or will hold.
  3. 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.

How does the PF calculator work?

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.

Benefits of using the calculator

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:

  1. 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.
  2. You can also check how much money will accumulate if you increase your contribution to the EPF.
  3. You will only have done a few calculations, and within seconds, you will know the amount.
  4. 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.