employees provident fund calculator or pf calculator
TRANSCRIPT
Employees Provident Fund Calculator or PF Calculator
BY : iepfbalance.in
What is a PF Calculator?
A provident store adding machine is an online apparatus by which you can figure your EPF intrigue which you would get from the focal government at the season of your retirement. Fundamentally, a PF adding machine is a speculation appraisal device that helps you evaluate your interests in worker provident reserve plans.
PF sum adding machine won't just help you know the enthusiasm on your PF stores, it will likewise furnish you with a gauge of how much adjust you would have in your representative provident reserve account when you resign. Key data to be placed in PF intrigue adding machine A worker ought to enter the accompanying data in a PF intrigue number cruncher to know his/her PF intrigue:
Current age of a worker. Current EPF adjust. Period of retirement. Month to month fundamental pay. Month to month dearness remittance. Month to month EPF commitment in rate
Expected compensation climb. When you put all the above data in the PF mini-computer, it will uncover the aggregate intrigue you would get at the season of retirement. EPF count is, along these lines, made less demanding by EPF adding machine. Provident store loan cost
Before heading towards EPF computation, a worker ought to know about the accompanying things:
For the most part, the focal government intermittently tells the rate of EPF loan cost. The EPF loan cost notice is accessible on the official site of EPFO, India. The accompanying are the loan costs of the last 3 financial years: Monetary Year 2012-13 - 8.5%. Monetary Year 2013-14 - 8.75%. Monetary Year 2014-15 - 8.75%.
In view of a representative's month to month normal adjust, EPF intrigue sum is figured. Worker provident reserve benefactors will get enthusiasm on their PF commitment and additionally boss' commitment towards the same. Despite the fact that, PF intrigue is ascertained on a month to month premise, the aggregate intrigue sum is credited on a yearly premise.
The credit payout is typically done toward the end of March. EPF bookkeeping year begins from February and closures in March. A representative can get tax reductions for adding to provident store accounts under area 80C of the Indian Income Tax Act, 1961. This advantage can be benefited for contributing up to Rs. 1 lakh to a PF account. In the event that you contribute for a representative provident store represent 5 years, you will escape impose finding on the sum you have contributed.
An EPF account benefactor can select any of his relatives as candidate. On the off chance that, something heartbreaking happens to the EPF donor, the chosen one will get a protection scope up to Rs. 3,00,000. Prior, Rs.1.56 lakh was allocated as protection scope. A representative ought to ensure he/she illuminates the candidate about this arrangement.
The base commitment made by a worker towards his/her provident store record ought to be 12% of his essential compensation. Prior, the base compensation restrain for EPF commitment was Rs. 6,500. In any case, now, it has been raised to Rs. 15000. For instance, if your month to month pay is Rs.15000 and you contribute 12% of your essential pay towards your provident reserve account, your month to month PF store will be Rs.1,800. Your boss will contribute Rs.550 and Rs.1,250 towards EPF and EPS individually on a month to month premise.
