Hi found this article myself
Provident Fund
For all employees who work in an organized sector, following is the PF contribution every month.
PF contribution by Employee = 12% of basic salary.
PF contribution by Employer = 12% of basic salary.
Employer Pension Scheme
Out of 12% contribution from employer, 8.33% of the contribution (subject to maximum of 541 rs/month) is invested in employer pension scheme.
Lets take an example and understand this.
Ram’s basic salary per month = 15,000
Ram’s contribution to PF = 12% of 15,000 = 1,800
Ram’s Employer contribution = 12% of 15,000 = 1,800
Employer’s contribution to EPS = 8.33% of 15,000 = 1250
This 1250 is higher than the max limit of Rs 541/month and hence
Employer’s contribution to EPS = 541
Employer contribution to PF = 1800-541 = 1259
So Total PF contribution to Ram’s PF account per month = 1800 + 1259
= 3059
How to calculate your PF balance?
Lets say Ram worked in a firm from April 2007 to March 2008.Let us find out what is his balance as on April 1st 2008.
Interest Rate on PF account = 8.5% (fixed by central govt)
So monthly contribution of 3059 for one year @ 8.5% =~ 40,000 (not exact figure)
So in this way you can calculate your return for ‘n’ number of years for your PF contribution, provided you know your monthly contribution.
I would insist to get to know your monthly contribution towards PF from your pay slip and also collect your PF account statement every year.
Regards
Caroline M.