How is EPF contribution calculated?

Employee and employer each contribute 12% of basic salary plus DA, capped at 15,000/month (so maximum monthly contribution each = 1,800). Employer contribution split: 3.67% to EPF account + 8.33% to EPS (Employees Pension Scheme).

What is the EPF interest rate?

EPFO declares an annual interest rate: 8.15% for FY 2023-24. Credited to accounts at year-end. Interest is exempt from income tax as long as contributions stay within the annual limit (up to 2.5 lakh for private sector employees).

Who is covered by ESI?

Employees earning up to 21,000/month (25,000 for persons with disabilities) in establishments with 10+ employees (in some states 20+). ESI provides medical, sickness, maternity, disability, and dependent benefits.

What are ESI contribution rates?

Employee: 0.75% of wages. Employer: 3.25% of wages. Both calculated on all wage components up to 21,000/month. Wages above 21,000: no ESI contribution, but employee loses ESI benefits.

Can EPF be withdrawn before retirement?

Partial withdrawal allowed for specific purposes (house purchase, marriage, medical emergency) after completing a specified number of years. Full withdrawal allowed after 2 months of unemployment. Tax implications depend on years of service.

India EPF and ESI Contribution Calculator

Calculate Indian EPF (12% employee + 12% employer, capped at 15,000/month basic) and ESI contributions (0.75% employee + 3.25% employer on wages up to 21,000/month). Includes PF interest rate 8.15% for FY2023-24.

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Frequently Asked Questions

How is EPF contribution calculated?

What is the EPF interest rate?

Who is covered by ESI?

What are ESI contribution rates?

Can EPF be withdrawn before retirement?