Employee Provident Fund Calculator

Download Employees Provident Fund Calculator Excel Template

Personal Finance

Are you a salaried person and contribute to an employee provident fund account? Then you might be curious to know many details about it, such as:

  • How much money have you contributed yet to the EPF account?
  • How much EPF retirement corpus will you receive?
  • How much can you withdraw at retirement to stay safe from tax?

No need to worry; the provident fund calculator Excel will explain everything about all your details. It is an excellent and straightforward EPF calculator that provides various information about EPF accounts.

The EPF calculator Excel download is a tool that estimates the EPF retirement corpus at the time of retirement or before it. This EPF calculator Excel is also called the EPF maturity calculator. The best part of this download EPF calculator Excel is that it is easy to use and simple to download. It can also be used as the provident fund calculator Excel.

Before discussing the EPF calculator Excel download, let’s know some details about Employee provident fund. It makes it easier for you to understand the details of EPF calculator Excel. 

About Employee Provident Fund Organization, India (EPFO)

Employee provident fund organization has the most extensive client base and the most significant transactions taking place now and then. It incorporates more than 24.77 crore accounts of its members. EPF was founded on 15th November 1951 with the promulgation of employee’s provident fund organization. However, it was shortly replaced by the Employee’s provident fund Act 1952, introduced in parliament in 1952 as bill number 15. It contained the provision of providing provident funds to the employees working in the factories and other organizations.

It is also called the Employee’s Provident Fund and Miscellaneous Provisions Act 1952. It is now applicable to Pan India. The tri-particle board governs the Act and the schemes that come under it.

What is Employee Provident Fund (EPF)?

EPF, or Employee provident fund, is a scheme by EPFO for retirement benefits schemes for salaried employees. The scheme is run under the supervision of the government of India, which manages the provident funds of employees in India.

In short, the Employee Provident fund is the scheme that facilitates employees to save some part of their salary monthly. They can use the amount saved during any emergency, unemployment, or after retirement.

Everyone wants to know how much money they contributed to their EPF account. The provident fund calculator Excel will help you understand all the details. Let’s discuss about download EPF calculator Excel.

Also read: Download Salary Slip Format In Excel, Word, PDF

Download Employee Provident Fund Calculator Template

To determine how much amount is accumulated in your EPF account or what is the contribution criteria in your EPF account, you can easily download the EPF calculator Excel. You can use this employee’s provident fund calculator Excel on MS Office or Google Sheets. Click on the link below to download EPF calculator Excel  :

The employee’s provident fund calculator Excel is designed using predefined formulas which calculate your EPF details in just a few seconds. You need to enter some details, and you will get the PF calculations for up to 35 years.

The EPF calculator Excel download template here will also help you calculate the yearly contribution you and your employer made and the interest earned.

How to use Employee Provident Fund Calculator?

To get accurate results, you must know how to use the employee’s provident fund calculator Excel properly. EPF calculator Excel requires some details that you have to enter:

  • Current age
  • Retirement age
  • Salary per month (basic + DA)
  • Percentage of expected salary increase per year
  • The interest rate of EPF
  • Employee contribution
  • Employer contribution

After you correctly enter all the details, the calculator works for you and provides the result for EPF corpus by retirement in your account.

EPF Contribution

To understand the EPF calculator Excel download, you must also know the contribution details under the EPF account.

Employees and employers contribute some amount to the EPF account every month, but the employer’s contribution is divided into 2 sections, EPF and EPS.

There are different contribution criteria for both public and private sector employees. The Public sector employee contributes 12% of the basic salary + DA. The private sector employee contributes 12% of the basic salary. The whole 12% of the employee contribution amount goes to the EPF account.

In the same way, employers also contribute every month to the EPF account of their employees. In the public sector, they contribute 12% of the basic salary + DA; in the private sector, they contribute 12%. But, the employer contribution is divided into 2 parts: 36% of the contribution goes to EPF (Employee provident fund and 8.33% goes to the Employee pension scheme.

EPF Contribution Examples

Before understanding downloading the EPF calculator Excel, let’s understand it using examples.

Suppose you are receiving a salary upto Rs. 15000, so the contribution will be:

  • Employee contribution to employee provident fund account: 12% of basic salary
  • Employer contribution to the Employee provident fund account: 3.67% of the basic salary
  • Employer contribution to the Employee pension scheme: 8.33% of basic salary = Rs. 1250

Suppose you are receiving a salary of more than Rs. 15000, so the contribution will be:

In this case, the employer contribution will get divided into 2 parts in the same way as in the previous case, but there is a difference. The employer EPS contribution will be 8.33% of the Rs.15000, i.e., Rs. 1250 + balance. The exceeding amount will be transferred to the EPF account.

Let’s understand it with an example:

Suppose, you are getting basic salary + DA = Rs. 50,000, so:

  • Employee EPF contribution: 12% of Rs. 50,000 = Rs. 6000
  • Employer contribution (EPF): 3.67% of Rs. 50,000 = Rs. 1835
  • Employer contribution (EPS): Rs. 1250

But, the 8.33% of 50,000 will be Rs. 4,165, so the remaining amount of Rs. 2,915 will be deposited to the EPF account.

This way, the total amount in the EPF account will be Rs. 10,750 per month.  This calculation process will be easier using the download EPF calculator Excel.

EPF Withdrawal Rules

The EPFO allows employees to withdraw partial or complete amounts from their EPF account; however, total payment can only be withdrawable under the following conditions:

  1. If you retire at the age of 58.
  2. If you have been unemployed for more than 2 years.
  3. If you die.

There are various rules made by the organization regarding the withdrawal of EPF. See the table below to understand it properly. Please note the rule may change as per the organization’s decisions from time to time.

Reason Eligibility Limit of withdrawal
Medical emergency No minimum service duration required Upto 6 times of basic salary or total employee share.
Marriage Minimum 7 years of service is required 50% of employee’s contribution
Home loan repayment Minimum of 3 years of service 90% of the PF amount in the account EPF.
House maintenance Minimum 5 years of service 12 times of monthly income of the employee.

Eligibility for EPF

If an organization has over 20 employees, the owners must register with the Employee Provident fund organization.

Employees receiving salaries below Rs.15000 should register for an EPF account. The employees with higher salaries can also register for the EPF account, but they need official permission from the assistant provident fund commissioner. Furthermore, mutual acceptance of employee and employer is also mandatory.

Eligibility of the Firms

As per the law, if more than 20 workers are employed in a company, it can apply to the EPF account of employees.

Income Tax details of the EPF Income

Before jumping to the EPF calculator Excel download, it is essential to know the provisions of the income tax act regarding EPF income.

Until 2021, the employee provident fund deposits and interest were 100% tax exempted, but the budget for the year 2021 brought some changes. In 2021, it was declared that if the deposit in EPF and voluntary funds is more than Rs. 2.5 lacs in a financial year, in such case the interest exceeding Rs. 2.5 is taxable.

Additionally, if there is no contribution from the employer’s end, the interest amount will be exempted from tax up to Rs. 5 lacs deposit amount in a financial year.

Benefits of the EPF Scheme

EPF scheme was launched for the betterment of the employees working in the public and private sectors and to safeguard their after-retirement life. The scheme has successfully attained its aim and has proved to be the most beneficial for the service class. There are various benefits of the EPF scheme. Above all, it provides financial stability to the employees. Let’s discuss more about the benefits of the EPF.

  • It offers the interest on deposit as announced by the government.
  • Employer contribution makes a massive upliftment in savings and safeguards retirement.
  • It can also be used in any emergency or at the time of unemployment.
  • You can be Tax exempted under the Income Tax Act for up to Rs. 1.5 lacs.
  • You can withdraw a partial amount to meet your timely needs, such as weddings, medical expenses, loan repayment, etc.
  • The VPF account. Many employees prefer to contribute more than their 12% basic salary and DA. The additional amount goes to the VPF account. The interest of the VPF account is the same as the EPF account.  
  • As employees change their job after getting better opportunities, what will happen to their EPF account? So, there is always a Universal Account Number (UAN) for all account holders’ EPFO. It is a 120-digit number that remains the same whether the employee changes companies. They can still use the same EPF account.

Contents of Employee Provident Fund Calculator

There are 3 sections in the employee’s provident fund calculator Excel: Header, employee detail, and PF calculation.

1. The Header section contains the company’s details, such as its logo and name, and its heading is “Employees provident fund calculator.”

2. The employee section has the details of the employee, such as the Employee name, the annual rate on a basic pay increase, employee contribution to EPF percentage, Employer contribution percentage, and Rate of interest.

3. Under the PF calculation section, there are further subheadings:

  • Total years of service.
  • Opening balance
  • Basic salary+DA
  • An annual contribution of the employee
  • A yearly contribution of the company
  • Total contribution
  • Closing balance

In the end, you will find the employee, employer, and total contributions. Here, you will get the current balance in your EPF account with interest.


EPF is highly beneficial for employees and has a great retirement plan. It helps save for the future without burdening the monthly salary. The employer’s contribution and the interest rate make the investment even more significant, and you get a reasonable amount of time for retirement.

The EPF calculator Excel download can help you clear all the doubts that you might have regarding the EPF account. The article has explained all the details of EPF and EPF calculator Excel for your convenience.

Download Employees Provident Fund Calculator Excel Template – FAQs

How can I activate UAN for transferring PF using online mode?

Ans. Activation of the UAN is a straightforward process, and You have to register to the EPF member portal to withdraw or process funds online. It will activate your UAN number.

Do I need a new UAN if I change the company?

Ans. Getting the new UAN while changing jobs is optional. You can link the new employer to the existing UAN.

Is it necessary to withdraw the EPF amount while changing jobs, or its possible to transfer the funds?

Ans. There is no need to withdraw the amount. The fund transfer option is available. However, it’s recommended to transfer the amount. Please note that if you withdraw the amount before 5 years, you must pay tax.

Is the employee and employer contribution tax-exempted?

Ans. Yes, the contributions from the end of the employee and employer are tax exempted. However, if the employee’s contribution is above Rs. 2.5 lacs, it will be tax deductible under section 80C.

What about the EPF membership of the person who works for more than 1 company?

Ans. If a person works for more than one organization, they will have a separate PF account or member ID for all establishments.

6. What will happen if the employer deducts the employer’s contribution from the salary?

Ans. If an employer is doing this, the employees should file a complaint. It’s a criminal offense. Employer’s contribution is the responsibility of the company owners. They should not deduct the amount from the employee’s salary.

How to calculate the employee’s contribution if the payments are received every week?

Ans. The total amount paid in a month will be calculated in such cases.

Can I contribute more than 12% of my Basic salary?

Ans. Yes, you can contribute more than 12% of the basic salary. However, the contribution amount must be at most Rs. 15000.

Is there any time limit for PF withdrawal?

Ans. The time limit is applicable only in case of resignation. Therefore, superannuation will not be appropriate. Generally, there is 2 month waiting time for an employee to withdraw the PF amount.

Will I get the interest If I discontinue my contribution?

Ans. If the PF account doesn’t get any employee contribution for 3 years, it will not earn any interest.


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