I want to know that how PF interest is calculated. suppose at the begining of the month my basic is Rs 1000 then in each month how much money i will get in monthwise. please tell me.
From India, Calcutta
From India, Calcutta
Hi friends,
You can calculate as follows:
1. Opening balance of Epf =Rs. 100/=
2.Current interest rate=8.5%/annum.
3.total amount at end of Epf year (march- feb)
=100X1.088390905
=108.81
4.Own contribution /year =say 25Rs
5. emplyer contribution/year= say 25Rs
6.Then EPF closing balance=(25+25+108.81)
=Rs 158.81.
The above will be accurate with less than 0.5 % variation.
S.Jaikrishnan
From India, Madras
You can calculate as follows:
1. Opening balance of Epf =Rs. 100/=
2.Current interest rate=8.5%/annum.
3.total amount at end of Epf year (march- feb)
=100X1.088390905
=108.81
4.Own contribution /year =say 25Rs
5. emplyer contribution/year= say 25Rs
6.Then EPF closing balance=(25+25+108.81)
=Rs 158.81.
The above will be accurate with less than 0.5 % variation.
S.Jaikrishnan
From India, Madras
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PF INTEREST CALCULATION SHEET.xls