Rs. 5000 EPF Interest Calculation | EPF Calculator with Current Balance & Interest Rate

Rs. 5000 EPF Interest Calculation | EPF Calculator with Current Balance & Interest Rate in Hindi
In this video by FinCalC TV we will see see EPF interest calculation from Rs. 5000 to Rs. 15000 Basic salary for salaried employees in hindi. We will use epf calculator and understand how interest is calculated in EPF with the help of epf interest rate which is 8.25% for FY 2023-24. This will help you to understand the compounding effect in EPF, full form is Employee provident fund.

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What is EPF?
The Employees Provident Fund (EPF) is a savings scheme introduced under the Employees Provident Fund and Miscellaneous Act, 1952. It is administered and managed by the Central Board of Trustees that consists of representatives from three parties, namely, the government, the employers and the employees.

The Employees Provident Fund Organization (EPFO) assists this board in its activities. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labor and Employment.

EPF scheme aims at promoting savings to be used post-retirement by various employees all over the country. Employees Provident Fund or EPF is a collection of funds contributed by the employer and their employee regularly on a monthly basis. The employer and employee contribute 12% each of the employee’s salary (basic + dearness allowance) to the EPF. These contributions earn a fixed level of interest set by the EPFO. The amount of interest to be received on the deposit along with the total accumulated amount is totally tax-free, i.e. the employee may withdraw the entire fund without worrying about paying any kind of tax on it, if total years of service is more than 5 years.

The accrued amount may also be withdrawn by the nominee or the legal heir of the employee post his death or can be withdrawn by the employee himself post-resignation.

Dearness Allowance: This amount is added to the employee’s basic salary due to rising. This allowance is different in different states. It is a relief given to employees to tackle ill-effects of inflation.

What is EPF Interest Rate?
Currently for FY 2023-24, interest rate in Employee Provident Fund (EPF) is 8.25%

How much PF will I get on 15000 salary?
Based on above calculator, if your monthly Basic pay + DA is Rs. 15,000, employee’s monthly contribution will be Rs. 1,800 and employer’s monthly contribution will be Rs. 551.

And based on your current age and retirement age in above calculator, you can get the total funds accumulated in your EPF Account.

#EPF #EPFCalculator #EPFInterestRate #fincalc

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Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
I Am Not A SEBI Registered Adviser. All The Information Provided By Me Are For Educational/Informational Purposes Only. We Do Not Take Any Responsibility For The Accuracy Of The Data But As It May Contain Typographic Or Other Errors And Inaccuracies And We Expressly Disclaim Liability For Any Errors On The YouTube Channel (FinCalC TV). Please consult your Financial Advisor before taking any decision or action in terms of your Finances.

Видео Rs. 5000 EPF Interest Calculation | EPF Calculator with Current Balance & Interest Rate канала FinCalC TV
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