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GPF calculator

Project your General Provident Fund balance at retirement from your GPF balance and monthly subscription at the government interest rate, paid tax-free.

Updated 6 July 2026 · Reviewed by Salary-Calculator.in

This calculator projects your General Provident Fund balance at retirement: your existing balance and your monthly subscription, grown at the government-declared interest rate to age 60, and paid as a tax-free lump sum on top of your pension. The GPF is the retirement saving of a central government employee on the Old Pension Scheme, funded by the employee alone, with no government contribution. Enter your figures below; the result updates as you type. The method and a worked example follow.

Calculator

Retirement is taken at the superannuation age of 60.
Your accumulated GPF balance now. Leave 0 if starting fresh.
Your monthly GPF subscription. Minimum 6 per cent of pay.
If you raise it each year with pay. Set 0 to keep it level.
Government rate, revised quarterly; 7.1 per cent, April to June 2026.

Projected GPF balance

GPF is your own saving: there is no government contribution. Interest is declared by the government each quarter and credited yearly, so the projection uses one assumed rate for the whole period. The balance is paid as a lump sum at retirement, exempt from tax, except that interest on any subscription above Rs. 5 lakh in a year is taxable.

Your GPF at a glance

The balance at 60, built from your existing balance, your future subscriptions, and the interest on both.

What the calculator computes

The calculator takes your age, your GPF balance today, your monthly subscription, the yearly rise in it, and the interest rate. From these it projects the balance at 60.

The first output is the GPF balance at 60, the headline figure. The breakdown shows it built from three parts: the opening balance you already have, the future subscriptions you will make, and the interest earned on both. Because the interest compounds over years, on a long run to retirement it becomes a large share of the balance. It also flags where your yearly subscription crosses Rs. 5 lakh, above which the interest on the excess is taxable.

The formula

Under Rule 11 of the General Provident Fund (Central Services) Rules, 1960, interest is calculated on the monthly balances and credited once a year on 31 March, so the fund compounds annually. Each subscription earns interest from the month it is paid to the end of the financial year, and the opening balance earns a full year’s interest.

The projection carries the balance forward year by year:

Balance next year = balance this year + a year’s subscriptions + interest on the running monthly balances

The interest rate is the one the government declares each quarter, the same for the GPF and the other statutory funds. It has been 7.1 per cent a year since the quarter beginning 1 April 2020, and is 7.1 per cent for April to June 2026, the latest verified quarter. The calculator uses the single rate you enter for the whole period, since future quarters are not known; change it to test a different rate.

There is no government contribution: the whole balance is your own subscription plus its interest. The minimum subscription is 6 per cent of your pay, and from 2021-22 the subscription is capped at Rs. 5 lakh a year for the interest to stay tax-free.

A worked example

Take an employee aged 50 with a GPF balance of Rs. 30,00,000 today, subscribing Rs. 25,000 a month, raising it 5 per cent a year, with the interest rate at 7.1 per cent, retiring at 60.

Over the 10 years to 60, the Rs. 30 lakh opening balance compounds at 7.1 per cent, and each month’s subscription is added and earns interest to the year-end, with the whole compounding annually. The balance grows to a little over Rs. 1 crore, of which the larger part is the subscriptions and a substantial part is the interest. The exact figure updates in the calculator as you change the inputs. An employee starting fresh at 30, subscribing Rs. 10,000 a month at 7.1 per cent for 30 years, builds a balance of about Rs. 1.2 crore, of which roughly Rs. 84 lakh is interest on Rs. 36 lakh of subscriptions, showing how much the long compounding adds.

Notes and scope

The calculator is a projection for a GPF subscriber on the Old Pension Scheme, and assumes the rate you enter holds for the whole period, which the quarterly-declared rate will not exactly do. It does not model refundable advances or partial final withdrawals taken during service, which reduce the balance, nor the split into taxable and non-taxable sub-accounts where the subscription exceeds Rs. 5 lakh a year. The balance is paid on retirement by the accounts office from your GPF account. For the rules behind it, see the general provident fund article, and for the wider retirement picture, the central government pension article.

Frequently asked questions

How is the GPF balance calculated?
Your opening balance and each month’s subscription earn interest at the government-declared rate. Interest is calculated on the monthly balances and credited once a year on 31 March, so it compounds annually. The calculator carries your balance and subscriptions forward to 60 at the rate you set.
Does the government contribute to GPF?
No. The General Provident Fund is funded entirely by the employee’s own subscription; there is no government or employer contribution, which is the key difference from the National Pension System, where the government adds 14 per cent. GPF only pays you interest on your own saving.
What is the GPF interest rate?
It is declared every quarter by the Department of Economic Affairs and has been 7.1 per cent a year since the quarter beginning 1 April 2020, including the quarter April to June 2026, the latest verified rate. The calculator defaults to 7.1 per cent, which you can change if a later quarter differs.
Is GPF taxable?
For a government employee GPF is largely exempt-exempt-exempt: the subscription is deductible under Section 80C in the old regime, and the interest and the maturity lump sum are exempt under Section 10(11). The one exception, from 2021-22, is that interest on any subscription above Rs. 5 lakh in a year is taxable.
Who can open a GPF account?
Only central government employees who joined before 1 January 2004, the Old Pension Scheme cohort. Employees who joined on or after that date are on the National Pension System and do not have a GPF account; their retirement saving is the NPS Tier-I corpus instead.
Is GPF separate from pension and gratuity?
Yes. The GPF balance is your own accumulated saving, paid as a lump sum at retirement over and above the monthly pension, the retirement gratuity, and the leave encashment. It does not reduce any of them, and it goes to your nominee on death in service.

See also

External references

References

  1. General Provident Fund (Central Services) Rules, 1960: Rule 8(1) (minimum subscription 6 per cent of emoluments) and Rule 11 (interest on monthly balances credited on 31 March, compounding annually, with a 4 per cent floor).
  2. Department of Economic Affairs (Budget Division), Ministry of Finance, quarterly interest-rate resolution F.No. 5(3)-B(PD)/2023: 7.1 per cent per annum for the quarter 1 April to 30 June 2026, unchanged since the quarter beginning 1 April 2020.
  3. Income-tax Rules, 1962, Rule 9D (taxable interest on provident-fund subscription above Rs. 5,00,000 a year), inserted by CBDT Notification No. 95/2021 dated 31 August 2021; DoPPW O.M. No. 3/6/2021-P&PW(F) dated 11 October 2022 on the Rs. 5 lakh subscription ceiling; Income-tax Act, 1961, Sections 80C and 10(11).

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