Preheat your oven to 350°F (175°C) and line a cupcake pan with paper liners.
In a medium bowl, whisk together the flour, sugar, baking powder, cinnamon, nutmeg, and salt.
In a large bowl, combine the pumpkin puree, melted butter, and eggs. Whisk until well combined.
Gradually add the dry mixture to the wet mixture, stirring gently until just combined.
Fill each cupcake liner about two-thirds full with batter.
Bake for 18-20 minutes or until a toothpick inserted in the center comes out clean.
Allow the cupcakes to cool in the pan for 5 minutes before transferring them to a wire rack to cool completely.
In a mixing bowl, combine butter, powdered sugar, and caramel, beating until smooth.
Once the cupcakes are completely cooled, frost them generously with the caramel swirl frosting.