Find the yearly interest added to your EPF balance.
EPFO calculates interest monthly on the running balance and credits it annually — this approximates that using the average balance over the year.
Interest: Average balance × interest rate
Is this exactly how EPFO calculates my interest?
It is a close estimate. EPFO actually works this out every month, on your exact running balance. This calculator uses a yearly-average method instead, which is close but not an exact match.