Does anybody have any idea how Interest will be calculated on EPF accounts?

POSTED BY Nageshwar Pinna ON June 10, 2013 12:47 pm COMMENTS (3)

Does anybody have any idea how Interest will be calculated on EPF accounts? Please let me know if any excel template available to check the EPF projection.

I roughly calculated but there is huge deviaiton between my calculation and EPF calculation. I want to know the what the correct way of EPF interest calculation and EPF projection.

3 replies on this article “Does anybody have any idea how Interest will be calculated on EPF accounts?”

  1. Bunker Guide says:

    If you are salaried, I recommend that you download latest tax calculator from the website below:
    http://www.ynithya.com

    You can also subscribe and get one.

    In the TaxCalc excel, apart from providing you the tax calculations based on your salary,the author gives you the PF Account Opening balance to be entered which you can enter from your PF slip. Rest all the calculations the excel sheet will do for you.

  2. bemoneyaware says:

    Calculation of EPF is as follows:
    At the beginning of each year there would be opening balance, the amount accumulated till then. Contribution is made monthly but interest is calculated yearly. On gets interest on opening balance and monthly contribution. So for next year the new opening balance would be: old opening balance + contribution throughout the year + interest on the (old opening balance + contribution)
    More on how to calculate EPF at Basics of Employee Provident Fund: EPF, EPS, EDLIS
    EPF calculator is at EPF calculator .
    Hope it helps

  3. I have used an article written by Manish to make a EPF projection for my retirement calculator.

    The calculator and the link can be found here

    http://freefincal.wordpress.com/retirement-calculators-3/retirement-planner-for-the-middle-aged-employee/

    Unable to locate Manish’s link now so inserting this.

    If there is a discrepancy please let me know and I will look into it.

    There are many EPF calculators in excel online. Please see which one makes sense and do share it with us.

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