EPF means Employees' Provident Fund,describe to help employees estimate the future value of their EPF contributions. The EPF is a government-backed retirement savings scheme that aims to ensure financial security for employees after retirement. Both the employee and the employer contribute a percentage of the employee's monthly salary to the fund, and the accumulated corpus earns interest over time. The EPF calculator provides a way to calculate the expected balance in the EPF account at the time of retirement or after a specified period.
You will have accumulated
by the time you retire.It calculates how much your Provident Fund will grow over time, helping you plan for retirement or other long-term goals. By inputting your salary and contribution rates, it shows how much you and your employer are contributing each month. It calculates the interest on your EPF balance, giving you a clear idea of how much your savings will accumulate over the years. It helps you adjust contribution amounts or periods based on your savings goals. It provides insights into your financial health and helps you plan better for future expenses or retirement.
The formula for EPF Calculator: