How Do I Calculate My Final PF Amount with Interest After 9 Months of Work?

Dear All,

Can anyone tell me how we can calculate the FINAL amount of PF? My last basic was 6000, and 12% of this was PF, i.e., 720. I worked there for 9 months. I had also submitted the PF withdrawal form. But I want to know how to calculate the final amount for PF, including interest. If anyone knows this, please let me know.

Thanks & Regards,
Darshan Palkar

Dear Darshan,

According to your basic salary, Rs. 6000.00 per month, your Provident Fund deduction is Rs. 720.00 per month. The total amount deposited to the P.F. Department is Rs. 1440.00 per month (with Rs. 720.00 deducted from your salary and Rs. 720.00 contributed by the employer).

For the nine months, your total amount deposited in the PF Department is Rs. 1440.00 x 9 = Rs. 12960.00. The interest rate is 8.5 percent per annum, calculated every six months. This would amount to around Rs. 550.00.

This means you will receive Rs. 13510.00. The clearance process will take 45 days or more and the amount will be directly credited to your savings bank account from SBI Bank.

I hope this information is helpful to you.

With regards,
Akhilesh

Dear Akhilesh,

Thank you for the reply. The above calculation is fine. However, the employer contribution is split into PF 3.67% and Pension 8.33%. So, will I receive a total of 12% or just 3.67%? And if yes, how can I withdraw the remaining 8.33%, i.e., the pension?

Regards,
Darshan

Dear Mr. Darshan,

You are not applicable for pension right now. When your account reaches up to 9 years, only then will the PF account be bifurcated into two categories: 1. EPF and 2. Pension. EPF constitutes 15.67%, while 8.33% is allocated to the pension. Therefore, if your account is below 9 years, the withdrawal amount is 24%.

With Regards,

G.R. Vishaka Guru

You have provided last month's salary as Rs. 6000/-. To calculate the accumulation of PF with interest, details of salary in each month are required. If it is uniform in all these 9 months, then the employee's contribution after the 9th month, with interest, will be Rs. 6666, and the employer's contribution will be Rs. 2038.

Excel Sheet for PF Calculation

I shall insert an Excel sheet in this regard. You may extend the rows as per requirement and enter the applicable salary.

Regards,
Abbas.P.S

I can assist you in understanding how to calculate your PF balance with interest for the last 5 years. Additionally, I can provide information on whether you can withdraw the total amount, including the pension or not.

Thank you.

Hi all, I want to withdraw my PF from my current employer as I have already resigned. I have contributed a total of 20,666 as PF over 2 years at the rate of 820 and 902 per month for the 1st and 2nd year (24 months in total). However, I am unsure of how to calculate the total withdrawable amount, including my contribution, the employer's contribution, and the interest earned. Please help me out.

Thanks.

Please tell me how to calculate the interest rate of P.F. I have worked in a company for 9 months, and my basic salary is Rs. 6000/-.

Thank you.

Hi, my name is Jatindeep Singh, and I submitted my PF form at the EPFO office in Gurgaon on 18-04-2016. Upon logging in to UAN to check my current status, I discovered that my Employee share is 10604, my Employer share is 3245, and the total is 13849. Could you please inform me of the amount that will be credited to my account?

Thank you.

Jatindeep Singh

Dear VISHAKAGURU,

Thank you for your valuable information, but I also have the same doubt. Could you please clarify it for me?

I have been working in a company for 6 years and 1 month. If I resign from my job now, how much PF withdrawal amount will I get (18% or 24%)?

Thanks & Regards,
M. Viswanath