About Employee Provident Fund (EPF)

The Employee Provident Fund (EPF) is a retirement savings scheme where both the employee and employer contribute a fixed percentage of the salary towards the fund. It is managed by the Employees' Provident Fund Organisation (EPFO) and offers attractive interest rates that help in building savings for retirement.

Features:

• Employer and employee contributions.
• Tax-free returns and interest earned.
• Loan facility available against EPF balance.
• Provides social security benefits.

Formula Used

A = P � ((1 + r/100)^t - 1) � (r/100)

Where:
A = Maturity Value
P = Monthly Contribution
r = Rate of Interest (%)
t = Investment Period (in years)