EPF Calculator with withdrawal rules

Here is an EPF calculator in Excel that helps illustrate the new EPF withdrawal rules. With effect from 10th Feb. 2016, EPF subscribers can only withdraw their contribution and the interest it earns in the EPF account if they quit their job before the age of 57. The employer contribution and the interest earned from it will be locked in until age 57.

Links to EPF notifications from Ministry of Labour and Employment:

Gazette PDF file links (Ministry of Labour and Employment) (disable pop-up blocker for this site)

Gazette of India Feb 20, 2016

EPF Refund reg.

UPDATE: Revised EPS Pension Calculator: How much will my EPS Pension increase?

After attaining the age of 57, 90% of the EPF balance can be withdrawn. Full withdrawal is possible after age 58. These changes are due to the change in the retirement age from 55 to 58.

As discussed at Asan Ideas for Wealth:

The problem arises when someone quits before age 58. The EPF account would become dormant after 3 years* and no voluntary contributions are possible. So the employer contributions could become inaccessible.

* The Calculator does not factor this in.

Ways to address this issue:

  • voluntary contributions by subscribers who are not employed by anyone should be made possible to keep the account alive.
  • Else the dormancy rules should be modified to at least allow withdrawal of the employer contribution up to say, age 58 since it is locked up.

The employee contribution is 12% of basic pay each month. The employer contribution is 3.67% of the basic pay if it is below 15,000.


The EPF Corpus Calculator with Contribution Schedule has now been updated to take into account the new EPF withdrawal rules.

The cash flow chart. The columns in red are new additions.


A good chunk of the corpus can be withdrawn. The fear is with respect to the dormancy of the corpus as pointed above.

Note: I am not an EPF subscriber. Please free to add your own insights to this issue and point out errors in my understanding.

Download EPF Calculator with 2016 withdrawal rules

With inputs from Ashal Jauhari, Pratheek John, Jalaj Baweja at Asan Ideas for Wealth.

Want to conduct a sales-free "basics of money management" session in your office?
I conduct free seminars to employees or societies. Only the very basics and getting-started steps are discussed (no scary math):For example: How to define financial goals, how to save tax with a clear goal in mind; How to use a credit card for maximum benefit; When to buy a house; How to start investing; where to invest; how to invest for and after retirement etc. depending on the audience. If you are interested, you can contact me: freefincal [at] Gmail [dot] com. I can do the talk via conferencing software, so there is no cost for your company. If you want me to travel, you need to cover my airfare (I live in Chennai)

Connect with us on social media

Do check out my books

You Can Be Rich Too with Goal-Based InvestingYou can be rich too with goal based investing

My first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create customg solutions for your lifestye!Get it now.  It is also available in Kindle format.

Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want

Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you want My second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a youngearner

The ultimate guide to travel by Pranav Surya

Travel-Training-Kit-Cover This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.  Get the pdf for ₹199 (instant download)

Create a "from start to finish" financial plan with this free robo advisory software template

Free Apps for your Android Phone

All calculators from our book, “You can be Rich Too” are now available on Google Play!
Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)

About Freefincal

Freefincal has open-source, comprehensive Excel spreadsheets, tools, analysis and unbiased, conflict of interest-free commentary on different aspects of personal finance and investing. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. We do not accept sponsored posts, links or guest posts request from content writers and agencies.

Blog Comment Policy

Your thoughts are vital to the health of this blog and are the driving force behind the analysis and calculators that you see here. We welcome criticism and differing opinions. I will do my very best to respond to all comments asap. Please do not include hyperlinks or email ids in the comment body. Such comments will be moderated and I reserve the right to delete the entire comment or remove the links before approving them.

9 thoughts on “EPF Calculator with withdrawal rules

  1. Couple of questions here:
    1. Will one continue to earn interest after the 3 year period without new contribution?
    2. What in case the person leaves the country?

  2. Hi ,

    1. if I resign and do not want to take employment before 57 or 58 years as I want to start my own business. I want to get all the Provident Fund (my contribution and Employer Contribution both).
    How is it possible ?

    2. What if I go leaves the country and go to other country for job ?

    Your suggestion or guidance would be appreciated.

    1. 1. You can only withdraw your contribution+ interest until age 58.
      2. No clarity yet on this and dormancy of account.

  3. hi team
    just one query. if i am contributing in VPF .
    so if i leave my job tomorrow for any personal reason. so the amount i will get is
    VPF + EPF ( mine contribution ) + interest
    50% of total amount irrespective of the VPF .

  4. Dear Sir
    After 7 years and 11 months service, on 30-11-2014, I retired from Private Company in which the retirement age was 60 years of age.
    My UAN Pass Book shows accumulated amount till 31-03-2015 under Employer/ Employee contributions an amount which includes interest up to 31-03-2015. Additionally there is amount under Pension Contribution made @ Rs 541 per moths till I completed 58 years of age.
    Since 30-11-2014, I am not employed in any service with EPS and EPF contribution. In other words, my PF account is inoperative from December 2014 to which the last contributions were from salary of November 2014.
    Here are my questions? Can somebody give answers quoting relevant notifications and references?
    1. Will I get interest for 36 months for these funds, if I plan to withdraw it on 30-11-2017 i.e. 36 months after my retirement?
    2. Can I withdraw the entire Pension Contribution Fund which was made only 72 moths till I became 58 and my entire service period was only 7 years & 11 months. Will I get some interest for that also?
    3. What is tax implication if I withdraw the amount in this F/y 2016-17.
    4. How to qualify my retirement? Can it be termed as ‘superannuation? What is difference between “retirement “and superannuation retirement?
    5. If at all there is interest , I may decide to withdraw the full amount . In that case which are the best investment option for me?

  5. Hi, This is a wonderful calculator. I am facing one issue though. How do I factor in VPF contribution? If I increase the EE contribution to 25% (12+13% VPF), the excel is also increasing the ER contribution. As per my understanding, ER contribution does not increase if an employee opts for VPF. The calculator is giving an exorbitantly high value in this case. Can you please help?

Comments are closed.