EPF & EPS Calculator User Guide

Overview

This calculator helps you determine Employee Provident Fund (EPF) and Employee Pension Scheme (EPS) contributions for both employees and employers in India. The calculator takes into account various factors including salary, contribution rates, and special conditions based on joining date.

Input Fields

1. Basic Salary

• Enter your monthly basic salary in Indian Rupees (₹)
• Note: While you can enter any amount, there’s a ceiling limit of ₹15,000 for standard EPF calculations

2. Employee Contribution

• Default rate is 12% of basic salary
• Can be adjusted if needed
• This represents the employee’s monthly contribution to EPF

3. Employer Contribution

• Fixed at 12% of basic salary
• Typically split between EPF (3.67%) and EPS (8.33%)
• The split may vary based on certain conditions

4. Calculation Period

Choose from four options:

• Monthly: Shows one month’s contributions
• Quarterly: Shows three months’ total
• Half Yearly: Shows six months’ total
• Annually: Shows full year’s contributions

5. Special Conditions

Ceiling Limit Checkbox

• If checked, applies the ₹15,000 salary ceiling for EPF calculations
• Recommended for employees with basic salary exceeding ₹15,000 who fall under the statutory ceiling limit

Post-September 2014 Checkbox

• Check this if you joined EPF on or after September 1, 2014
• Important: This affects the calculation method if your salary exceeds ₹15,000
• When checked for salaries above ₹15,000:
  • EPS contribution becomes 0%
  • Entire 12% employer contribution goes to EPF

Understanding the Results

Employee’s Share

• Shows the employee’s EPF contribution (typically 12% of basic salary)
• Subject to ceiling limit if applicable

Employer’s Share

Displays two components:

1. EPS Contribution (Usually 8.33%)

• May become 0% for post-September 2014 members with salary > ₹15,000

2. EPF Contribution (Usually 3.67%)

• May increase to 12% for post-September 2014 members with salary > ₹15,000

Total Contribution

• Sum of all contributions (Employee’s + Employer’s shares)
• Shown for the selected calculation period

Important Notes

1. Salary Ceiling:

• Default ceiling limit is ₹15,000
• Affects calculation if “Apply Ceiling Limit” is checked

2. Post-September 2014 Rule:

• Significantly affects contribution distribution for salaries above ₹15,000
• Ensures compliance with current EPF regulations

3. Calculation Accuracy:

• All amounts are rounded to two decimal places
• Monthly calculations are multiplied accordingly for longer periods

Tips for Accurate Calculations

1. Enter the correct basic salary (not gross salary)
2. Check appropriate boxes based on your employment date
3. Select the right calculation period for your needs
4. Verify if ceiling limit applies to your case

Common Scenarios

Scenario 1: Basic Salary ≤ ₹15,000

• Standard calculation applies
• No special considerations needed

Scenario 2: Basic Salary > ₹15,000 (Pre-September 2014)

• Can choose whether to apply ceiling limit
• Standard EPS-EPF split applies

Scenario 3: Basic Salary > ₹15,000 (Post-September 2014)

• Different calculation method
• Full employer contribution goes to EPF
• No EPS contribution

You May Check Also :

• ESI Contribution Calculator
• Annual Bonus Calculator
• PPF Calculator