It is a calculator app which calculates the epf corpus amount that will be available when one retires in accordance to th given input. All the inputs are mandatory to be provided. The app also suggests the percentage of the basic salary the employee must dedicate to the EPF account in order to achieve desired EPF corpus. A pie chart is also displayed with break up of the corpus amount in order to better understanding of the EPF corpus.
The following is the description of the inputs needed to be provided.
AGE: Current age of the employee.
Current EPF balance: The present balance amount in the EPF account.
Current Basic Salary: Monthly Basic Salary + Dearness allowance
Employee contribution in percentage: Percentage of the basic Salary the employee contributes to the EPF account (Default is 12%).
Employer contribution in percentage: Percentage of the basic salary the employer contributes to the EPF account (Employer contribution is also 12%, out of which 3.67% is towards EPF and the remaining 8.33% is towards EPS).
Average increase in Salary in Percentage: Percentage of average increase in Salary (per annum) over the years till the employee retires.
Retirement Age: Age when the employee expects to retire.
Current ROI for EPF: The current ROI provided by EPFO. Currently it is 8.80%.
Expected epf corpus: The amount an employee expects when he retires. Minimum is Rs 20,00,000.
Once the inputs are entered, click the submit button.
VERSION HISTORY
- Version 1.0.0 posted on 2016-02-18
Program Details
- Category: Business > Accounting & Finance
- Publisher: Kansapps
- License: Free
- Price: N/A
- Version: 1.0.0
- Platform: android