Basic Salary + DA
The component of your salary on which PF is calculated. It is usually 40-50% of your CTC. Allowances like HRA, LTA, or Special Allowance are NOT included in this calculation.
VPF (Voluntary Provident Fund)
VPF allows you to contribute more than the mandatory 12% of your Basic Salary to your EPF account. It earns the same high interest rate (8.25%) and enjoys the same sovereign guarantee, making it one of the safest debt investments in India.
EPS (Employee Pension Scheme)
A pension scheme for organized sector employees. It does not earn interest like EPF. Instead, it builds a service history to pay you a monthly pension after age 58. This calculator focuses on the EPF corpus, not the EPS pension.
EDLI (Employees' Deposit Linked Insurance)
All EPF members are automatically covered under EDLI, which provides life insurance cover of up to ₹7 Lakhs to the nominee in case of the employee's death during service. No premium is deducted from the employee's salary for this.
UAN (Universal Account Number)
A unique 12-digit number assigned to every employee contributing to EPF. It remains the same throughout your career, even if you change jobs, allowing you to consolidate all your PF accounts into one.
Form 15G/H
If you withdraw your EPF before 5 years of service and the amount is > ₹50,000, TDS is deducted. You can submit Form 15G (for age < 60) or Form 15H (for seniors) to avoid TDS if your total income is below the taxable limit.