**Find the result on EPF Pension calculator with a new EPS formula for accurate results, Calculate your monthly gross pension to be paid on your Employee Provident Fund Scheme…**

## EPF Pension Calculator

**Contributions for EPF Employee Pension Scheme (EPS)**

The employee EPF Pension is calculated on new calculator as per the new formula and by the share given by the employer which is thus a combination of the share from employee and employer.

**Contribution by Employee**: The employee provident fund does have a varying contribution based on the gender, and the contribution made by an employee will accumulate in their accounts which gets added with the contribution of the employer.

Below are the details of how differently the contribution of employees based on gender is done.

**Male Employee**: If you are a man, then you will have to contribute 10 to 12 percent of your basic salary.

**Female Employee**: If you are a new working woman, then for the first 3 years the contribution will be 8 % of basic salary and will be equalized to 10 or 12 percent, once they have done their 3 years.

**Contribution by Employer**: Being an employer the contribution will be like every employee and non-biased will be allowed in Gender form, and a percentage of 10 to 12 will be taken from the basic salary as an employer share and will be added with the employee share based on their eligibility.

## EPF Pension Calculation Formula

Monthly Pension = (Pensionable Salary * Completed Service Period) / 70

The simple formula is pensionable salary multiplied with completed service divided by 70. Ex: (15000*30)/70,

## Employer EPS Contribution Calculation

The pensionable contribution provided by the employer calculates at 8.33% on pensionable salary fixed as below

**15000*8.33% = 1250** or **15000*8.33/100 = 1250**

Where as the share of Rs.1250 is credited into EPS account which is divided from total contribution of employer.

## Interest Rate for EPF Calculation

The employee’s provident funds do get accumulated into the Pension and provident fund format with different interest rates. The interest will be applied at the end of the financial year by making a good increase in the employee savings.

- Employee Provident Fund Interest Rate is 3.67 percent
- Employee Pension Scheme Interest Rate if 8.33 Percent
- Employee Deposit Link Insurance scheme is 0.50 percent
- There are other charges that will be charged to the employer based on the employee account activation.

Find EPF Interest Rate as on date from 1952

## How to Calculate Employee Provident Fund Pension Scheme (EPS)

The interest rate defined above is calculated based on the savings that are accumulated from the employee and employer share, and the EPF amount is calculated every month, and let us assume you have got a basic salary of 25,000.

**Employee EPF Contribution** : If a basic salary is 25,000 then your share for the EPF will be 12 % of the basic salary which is around 3,000 every month.

**Employer EPF Contribution**: Your employer contribution toward the EPF for your account will be 3.67 percent basic salary for 25,000 which will be around Rs 917.50 per month.

**Employer Contribution for Pension**: 8.33 percent of **basic pensionable salary of the employee** will be around 1249.50 will be added into your pension account which will be alone and there will be no share from employee under Pension scheme.

Total contribution of the Employee Provident Fund will be Employee share including employer share that will be made a total as 5,915 with 3000 form employee and 2915 from employer share.

Frequently Asked Question:

**How much does an employee contribute to the Pension Scheme?**

As per the employee provident fund calculation, the share for the Pension is taken from the 8.33 percent that is contributed from the employer, and as the Pension is accumulated with this 8.33 percent and the remaining 3.67 percent of employees will be added to the employee provident fund PF account, and the entire employee share will be towards the PF amount only and this pension share is not withdrawable.

**What Happen if my basic salary increased very recently?**

As per the guidelines of the Employee Provident Fund, the calculation of the PF contribution by employee and employer will be done after the contribution of the previous month has been settled, and thus during this course of time, if you have an increased value of basic salary then the same will be used to calculate the PF contribution from both employee and employer.

**Can I withdraw the entire amount from the Employee Share?**

The employee if required can get their EPF contribution amount withdrawn with a calculation as per the formula of new pension calculator will be done by calculating the value of your three times basic salary or the 75 percent of the pension employee share, whichever is the highest will be sent for a settlement based on your request raised for EPF amount withdrawal.

Supriya vinchurkar says

I am on without pay medical leave for six months, how my epf pension will be calculated, if I get retirement after leave