Looking for a template for making your retirement planning simple and efficient. To ensure good growth and keeping the same lifestyle retirement planning is essential to download our Employee Provident Fund Register Format template here for free of cost and simplifies your planning process.
Companies are providing this benefit to their employees to make their retirement stress-free and providing additional benefits in terms of finance.
What is the Employee Provident Fund Register?
The pension on retirement is linked to the number of years in service and the average salary drawn in the year before retirement. This contribution in EPS helps in building a corpus for your pension. (according to moneycontrol.com)
To tell the truth, meeting your financial goals is the need and requirement of every individual and now you are able to see the monthly saving amount and provident fund which will be available to your employees at the end of the day using this excel template.
Elements of Employee Provident Fund Register Format
If you are a beginner in excel or pro in handling it, this template is for everyone download this template available in different designs and layouts:
There are different elements in provident fund, which are added in the template
Basic section of Format
Start by entering the company name and logo on the top of the template.
The initiation of the template is completed, once you filled out,
Employee name, rate of increase of basic pay, interest rate, your contribution, CTC’s, company contribution, bank pay + DA.
Depending on the job nature and the years for which an employee is going to work with your company until retirement is added here in this column.
You can add them in numbers or add the year’s inappropriate format here.
The opening balance for the 1st year is 0.00.
It keeps increasing each year. Add the opening balance at the front of each year.
Add the basic pay each year here. Add the amount which is increased each year
Employee yearly contribution and company yearly contribution
These columns are reserved for entering the employee yearly and company yearly contribution.
The total contribution is then calculated by the template and available here. Get a free employee payslip template.
Rate of interest
Add the rate here. This will help in calculation and showing the total amount calculated as well.
It differs for the year. The closing balance for each year will be the opening balance for the next year. Also, review the cashier balance sheet template.
If your employees are working with you, now you are able to help them and keep them loyal with you using this calculator.