Hi Seniors, I have a doubt bases on Calculation of Interest Rate 8.65%
Per Month Contribution:
Employee Share PF Contribution - Rs. 672
Employer Share PF Contribution - Rs. 206
Pension Contribution - Rs. 466
Even after 5 months of contribution I got below interest amount.
Interest Updated upto 31.03.2017
Employee Share Interest amount Rs.48
Employer Share Interest amount Rs.15
Interest Amount for Pension Contribution is Rs.0
Why no interest for Pension Contribution?
Kindly guide me for calculating Interest Amount.
Thank You.

From India, Chennai

Dear Ranjeetha MP,
Employer & employee shares in PF belongs to the Member. Hence when it is deposited with EPFO, they have to give interest to members. But members have no claim on pension fund. It is EPFO's property. Members can claim either pension or withdrawal benefit, as the case may be. It have no connection with the deposit; but depends upon the service, last drawn average salary etc.

From India, Bangalore
Vidyadhar Bhat

Dear Ranjeetha, The interest calculation is shown in the attached sheet, as per details provided by you. Mr. Abbas has already intimated you other details. Thanks, Vidyadhar Bhat
From India, Pune
Attached Files (Download Requires Membership)
File Type: xls EPF Interest calculation.xls (30.5 KB, 2032 views)


Dear Sir, Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet. Thanks, Ranjeetha.MP
From India, Chennai

Dear Sir, Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet. Thanks
From India, Chennai

Dearsir My name Anit kumar s/o Ratan singh My company. India Yamaha motor surajpur greater noida up My UAN. 100978944644 MY FATHER’S NAME MYSTIC SHWO. Ravindra PLEAS WRITE HELP
From India, Delhi

In the EPF calculator, we have used the 1st method for computing the employee and the employer contribution. Just to understand our methodology, let us take the following case:
1. Employees' Basic Pay + DA: Rs 25000
2. Employee contribution towards EPF: 12%*25000 = Rs 3000
3. Employer contribution towards EPF = 3.67% of 25000 = 3.67%*25000 = Rs 917.50.....(A)
4. Employer contribution in Employee Pension Scheme (EPS): 8.33% * 15000 = Rs 2082.50 .....(I)
ID Paytek, a payroll software designed by experts keeping in mind the essential needs of organizations is a very powerful HR management tool that takes care of all core HR activities in an organization.

From India, Bengaluru
Vidyadhar Bhat

Dear Sir,
There should be few corrections towards contribution.
EPS contribution is to be restricted to Rs. 1250/- ( Max . wages Rs. 15000 ) and diff amount will go to Company contribution.
In the specimen you are writing EPS wages as 15000, but calculatiog on 25000/- as Rs. 2082.50
Rest all will be entered in the excel file in EPF Interest calculation.
Vidyadhar Bhat

From India, Pune

For calculation of contribution to ESI we should use ROUNDUP function in Excel, otherwise it will not tally with amounts shown by ESI System.
There is a problem with Employer's contribution-
- After uploading the excel sheet, the system displays total contribution by employee & employer. It is easy to check employee contribution.
-But there is no way of matching employeewise contribution made by the employer before payment of the challan.
-It is only after payment that I can download the details
Any solution to this will be appreciated

From India, Bidar
Srinath Sai Ram

Dear, Please note that Employer Contribution is payable on Gross ESI Wages (Inclusive of Gross Wages of all ESI Covered Employees)
before uploading the data in the portal, Calculate approximate Employer Share of Contribution @4.75%. The portal is programmed to calculate accurately.you have to round off Employee & Employer Contribution to the nearest Rupee before uploading the data

From India, New Delhi
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