Form validation using PHP

<form method="post" action="#">
      Name:
      <input type="text" name="name"/>
      <span style="color:#FF3300"><?php echo $error;?></span> <br>
      Email:
      <input type="text" name="email"/>
      <span style="color:#FF3300"><?php echo $erro;?></span> <br>
      Contact:
      <input type="text" name="contact"/>
      <span style="color:#FF3300"><?php echo $err;?></span> <br>
      <input type="submit" name="submit" value="Submit"/>
    </form>

      <?php
     //Declare variables value as empty
$name=$email=$contact="";
$error = $erro = $err = "";
if(isset($_POST['submit']))
{
    if(empty($_POST["name"])) {
    $error= "Enter your name";
    echo "<br>";
    }
    if (empty($_POST["email"])) {
     $erro="Email is required";echo "<br>";
   } else {
     $email = $_POST["email"];
     // check if e-mail is valid
     if (!preg_match("/([\w\-]+\@[\w\-]+\.[\w\-]+)/",$email)) {
       $erro="Invalid email format"; echo "<br>";
     }
   }
    if(empty($_POST["contact"])) {
        $err="Enter your contact number";
    }  
}
?>