EPF Pension Calculator & EPS Withdrawal Amount Calculator

EPF Pension Calculator & EPS Withdrawal Amount Calculator

In this page, you can use 4 calculators related to Employee Pension Scheme (EPF) of the EPFO. You can use these calculators online. Also, I have made the Excel version of these calculators to download.

  1.  I have developed an EPS calculator which would tell you the Pension amount after the retirement.
  2. You would also know the pension amount which would be returned if your leave EPF membership before 10 years.
  3. I have made another EPF pension calculator which tells the amount of reduced pension in case you want an early pension.
  4. There is a calculator which tells you the enhanced pension amount if defer it up to the age of 60.

Use this calculator to know the Pension amount after the age of 58. According to the EPS rules, the pension is given after the age of 58. You would be eligible for the pension only after completing 10 years of EPF membership.

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EPS Pension Calculator

Total Duration of Service




Calculator for EPS-1995

This calculator is only for the EPS scheme 1995. It does not calculate for the family pension scheme-1971. All the employees who have joined after 1995 are part of this scheme.

Duration is Rounded off

While calculating the Duration of EPF membership, the last 6 months or more would be considered as 1 year. e. g. If you have been EPF member for 15 years and 7 months, your pensionable duration would be 16 years. But If the duration would have been 15 years and 5 months, The pensionable duration would be only 15 years.

Bonus Years

If you have completed 20 years of EPF membership, you would get 2 years bonus for the pension calculation. e. g. If you have been EPF member for 22 years, your pensionable service would be 22+2 years that is 24 years. I have factored in this bonus in the calculator hence, you are not required to add it yourself.

High Salary Does not Mean High Pension

Note, the pension contribution is 8.33% of your basic salary but it is limited to 1250/month. This amount is 8.33% of 15,000. Thus, for the EPS scheme, your salary would not be more than ₹15,000. That is why the pension amount would be the same whether your salary is 15,000 or 50,000. From 2014, the EPS scheme does not accept more than ₹1250/month contribution.

Minimum Pension 

You would get the minimum pension of ₹1000/month irrespective of your contribution or service duration. However, you must have completed the minimum 10  years of the service. The above calculator has taken note of this point as well.

If you don’t complete 10 years in the service, you would not be able to get the monthly pension. In such a scenario, you would get back your pension contribution. This amount is called as the Pension Benefit. The pension benefit is decided on the basis of Table. The EPF interest rate does not apply to this amount. I have given the table below.

Calculation Of Pension Withdrawal Amount

Average Salary (Basic+DA) during the last 60 months, Salary of any month should not be more than 15,000


  • Since your EPS contribution is limited to ₹1250/month (8.33% of 15,000), You can take the maximum salary of ₹15,000 of a month while calculating the average salary.
  • If you try to find out the interest rate of the Pension benefit, it would be very low for initial years. Later, It becomes decent.
  • To get the pension benefit, you must have completed at least 6 months in the service.
  • The average salary for the calculation would be calculated for the last 60 months. But if your service period is less, You should take the average salary of that period.
Table D
Years of service The proportion of wages at exit
1 1.02
2 1.99
3 2.98
4 3.99
5 5.02
6 6.07
7 7.13
8 8.22
9 9.33

Reduced Pension Calculator

The EPS scheme gives you the option to get an early pension. If you wish, you can get a pension from the age of 50. However, the amount of such early pension would be less. The Amount would be reduced by 4% for every lost year.

Early Pension Calculator



The reduction of 4% is not as simple as it seems. I have made a table for the deemed pension of 10,000.

Age Pension Description
58 10000 Full Amount
57 9600 4% less of 10000
56 9216 4% less of 9600
55 8847 4% less of 9216
54 8493 4% less of 8847
53 8154 4% less of 8493
52 7828 4% less of 8154
51 7514 4% less of 7828
50 7214 4% less of 7514

How To Find Out Deemed Pension

For the Deemed pension, you should use the first calculator. The duration for that calculator should be taken for the age of 58. Once you get the pension amount at the age of 58. You can use that amount to calculate the reduced amount for the early pension.

Enhanced Pension Calculator

You can also get an enhanced pension after the age of 58. To get a higher pension you have to defer the pension payment. If you defer the pension by one year, the pension would increase by 4%. You can defer pension up to the age of 60. Thus, you can increase your pension by 8.16% by deferring it for 2 years.

Higher Pension Calculator

Average Salary Calculation

For the pension calculator, you have to enter the average salary in the last 60 months. If your average salary has been 15,000 or above you can simply enter ₹15000. But if there has been less salary in the last 60 months, you must find out the average salary.

To find out the average salary get the product of your salary and months. Add the products of different salaries. Divide the total amount by the total months. You can use the following calculator.

Average Salary

Salary 1


Salary 2


Salary 3


Salary 4


In India When An Employee thinks about the retirement days, he/she also thinks about the EPF and EPS. Along with the EPF balance, every member of the EPF scheme wants to know pension amount after the retirement. Similarly, Some employees also want to know the pension amount which would be returned after leaving the job. Some have the requirement for a reduced pension while other want the deferred pension. In this post, I have given the calculators for all purpose. Use these calculators and share it with your friends.

Pension Calculators Excel File To Download

I have made an excel File of the above pension calculators. You can download this file and keep it for further use. But If there is an update, it would be better to revisit this page. I have given the link of this page on the excel file. Please do visit this page of planmoneytax.com for detailed explanation and rules of the EPF Pension…….Read more>>




Source:- planmoneytax


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