Check According To New Calculation Formula EPF Pension Calculator Online
Choose EPF pension calculator as per the new calculation formula and get accurate results Check out your EPF Gross Pension monthly to pay for the employee provident fund scheme
Employee Monthly Pay scheme Contributions
The employee EPF Pension calculator having new calculating formula is here It is according to the share given by the employer which is made of the share of employee and employer
Employee Contribution:
Based on Gender employee provident fund has a variable contribution To add on the contribution made by the
employer the employee contribution is accumulated in their account
Here are the details of the employee contribution based on gender
Male Employee
If you are a male your contribution from the salary would be 10 to 12%
Female Employee
If you are women who have recently started working your contribution would be 8%for the first 3 years after that the contribution will range from 10 to 12%
Employer Contribution
Being an employer it is must be un-biased in term of gender As an employer share 10 to 12%of the basic salary is added based on eligibility
Pension Calculation Formula EPF
Monthly Pension=(Pensionable salary *Completed Service Period)/70
Pensionable salary is multiplied with completed service period and divided by 70
Calculation of Employee EPS Contribution
On pensionable fixed salary the pensionable employer contribution is calculated at 8.33%
15000*8.33%=1250 or 15000*8.33/100=1250
Divided from the total contribution of the employee share of 1250 credited into EPS Account
EPF Calculation Interest Rate
With different interest rates, employees provident fund accumulates into a pension and provident fund format By making a good boost in employees savings the interest is applied at the end of the financial year
- The interest rate for employee provident fund is 3.67%
- EPS interest rate is 8.33%
- Employee Deposit Link Insurance scheme is 0.50 percent
- based on employee account activation there are always some extra charges on the employer
Find EPF New Rate as on date from 1952
Employee Provident Fund Pension Scheme Calculation
The EPF amount is calculated every month and the interest rates are based on the saving contribution of both employee and employer. If the basic salary is 20000
EPF Contribution By Employee
This is around Rs. 3000 if the basic salary is 20000 and your EPF share is 12%
Employer EPF Contribution
If the basic salary is 25000 and employer contribution towards your account is3.67% this is around Rs.917.50 every month
Employer Contribution For Pension
Under pension scheme, there would be no share by the employer and the the8.33% of the basic salary of the employee around 1250 RS. would be added to the pension account
Employee share and employer share combine to make a total contribution of the employee provident fund. For a total of 5915 with 3000 from employee and 2915 by employer share
To get more information visit the official website EPF Pension Calculation Process
How much is the share of employees in the pension scheme?
The pension has an 8.33%contribution from the employer remaining 3.67 percent is to be added by the employee The pension share is non withdrawable and the entire employee share is toward the PF amount
What happens if employees’ basic salaries have increased very recently?
According to the guideline of the Employee provident fund policy, the PF amount has contributed by both employees and the employer If the employee basic salary has increased than the previous month settled the PF contribution would be as premium by both employee and employer
Can I withdraw a complete employee share?
As per the formula of the new pension calculator employees can withdraw EPF amount By calculating your 3 times basic salary or 75% of pension employee share this is done By sending a request for EPF amount withdrawal the highest may be sent by settlement
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