There are two laws, given by Faraday which explain the phenomena of electromagnetic induction:
Whenever a conductor is placed in a varying magnetic field, an emf is induced. If the conductor circuit is closed, a current is induced, known as the induced current.
The Emf induced inside a coil is equal to the rate of change of associated magnetic flux.
This law can be mathematically written as:
∈\(-N {\triangle \phi \over \triangle t}\)