Pension Calculator: Determine your exact pension amount from your PF account

Pension Calculator: Determine your exact pension amount from your PF account

Pension calculator: EPFO customers may use this tool to estimate their future pension and EDLI benefits based on their total investment and deposit amounts.

Pension calculator: The EPFO-managed Provident Fund is a prime option for setting up a retirement fund. Under this plan, the firm makes a monthly contribution equal to a portion of the salaried employee's pay. The employee is better equipped since 8.33% of the employer's contribution goes to the Employee Pension Scheme (EPS) and 3.67% to the Employee Provident Fund (EPF). This includes the benefit of Employee's Deposit Linked Insurance (EDLI), which provides an insurance payout of up to Rs 7 lakh to the nominee of a PF member in the event of the member's untimely death.

Both pension and EDLI benefits are calculable.

Additionally, you may compute your EDLI and pension benefits. Subscribers to EPFO have the ability to precalculate their pension and EDLI benefits based on their total investment and deposit amounts. On its official website, EPFO offers a calculator for figuring out pension and EDLI benefits. With your PF account, you may verify your monthly pension and EDLI payments by providing certain information about your employment and income.

You may do this by following the detailed instructions below.

1. Benefits Calculator for EDLI

Visit EPFO's official website.

Click the EDLI and Pension Calculator option located under the Online Services menu on the dashboard.

A new page will then appear in front of you after this. You will see the EDLI Benefit Calculator and the Pension Calculator in a single box.

You will need to enter the EPFO member's date of death, average progressive balance, and average pay for the previous 12 months into the EDLI Benefit Calculator.

You may find out the overall amount of EDLI benefits by clicking on Show Updated Calculation after inputting the inputs.

2. Calculator for Pensions

Go to the Pension Calculator page.

Inputting your birthdate is mandatory. You will also need to provide information on joining, quitting, and other things. Click Show/Update information after that.

Following this, the system will compute and display your 58-year-old completion date, 50-year-old early pension eligibility date, and pension start date for monthly pension amount.

After 50, you may start receiving an early pension, but the amount will be less. You will also start receiving your full pension benefit after reaching 58.

Click Show/Update information after entering the pension salary and beginning date in the calculator. You may see your monthly superannuation pension amount on the system.

Make sure you understand this.

The quantity shown need not always be exact; it may fluctuate sometimes.

The progressive balance should be computed from April, 2021 to March, 2022 in the event that the PF member passes away in April of 2022.

The combination of the employer's and employee's PF balances as well as the pension contributions made over the previous 12 months is the progressive balance. Also, you may use your EPF passbook to check this balance.

The pension calculator only displays early and superannuation pensions.