The Employees Provident Fund Organisation (EPFO) has initiated the method of depositing curiosity for the monetary yr 2022–23. EPFO has given this data in response to a put up by a consumer on the social media platform X. The central authorities accepted in July this yr elevating the rate of interest on Employees Provident Fund (EPF) deposits to 8.15% for the monetary yr 2022–23.
The announcement comes after the Employee Provident Fund Organisation (EPFO) choice in March to enhance charges for its more than six crore subscribers. Currently, EPFO contributors are questioning when the curiosity quantity shall be credited to their EPF accounts. Some customers requested EPFO when the 2022-23 rate of interest will come.
EPFO answered, “The process is in the pipeline and may be shown there very shortly. Whenever the interest is credited, it will be accumulated and paid in full. There will be no loss of interest. Please maintain patience.” Back in March, EPFO educated its subject places of work to credit score the 8.15 % curiosity for EPF 2022–23 into people’ accounts.
When the sum is credited, customers can check their EPF balance in several methods, together with the EPFO website, SMS, missed calls, or the Umang Application. In March 2022, the EPFO introduced down the rate of interest on EPF deposits for 2021–22 to a four-decade low of 8.10 % from 8.5 % in 2020–21. This was the bottom charge starting round 1977–78, when the EPF rate of interest was 8%.
The EPFO is among the largest social safety organisations, offering social safety advantages akin to pensions and insurance coverage.
How to check EPFO balance:
Check your account balance on the web site?
- First, go to the official web site of EPFO at epfindia.gov.in.
- Now go to the Services tab.
- Here you have got to search and choose ‘For Employees’.
- From right here, you’ll attain a brand new web page the place you have got to click on on ‘Member Passbook’. After this, the UAN and password have to be entered.
- After the passbook is opened, employer contributions, particular person contributions, and curiosity shall be seen in it.
- Employees who’re working for more than one firm can check with totally different IDs. This data is out there on the wage slips of the staff.
Know account balance by SMS
To check your PF balance by SMS, you have got to ship SMS EPFOHO UAN ENG to 7738299899 out of your registered cell quantity. Here, ENG tells concerning the first three characters of the language through which you need the knowledge.
The message facility can be out there in English, Hindi, Punjabi, Gujarati, Marathi, Kannada, Telugu, Tamil, Malayalam, and Bengali. To know your EPFO balance by SMS, your cell quantity should be registered with UAN.
Check balance by missed name
To check your PF balance by a missed name, your cell quantity should be registered with UAN. You can check your PF balance by making a missed name to 9966044425 out of your registered cell phone. After a missed name, a message from PF will come to your registered quantity, from which you’ll know the PF balance.
How to check the balance on Umang app
- Open your UMANG app and click on on EPFO.
- You have to click on on employee-centric companies on one other web page.
- Click on View Passbook right here. Enter your UAN quantity and password (OTP) quantity.
- The OTP will come to you in your registered cell quantity.
- After this, you’ll be able to check your PF balance.
Also learn | EPFO deadline to apply for greater pension prolonged to July 11
Also learn | (*7*)EPFO information: 13.4 lakh members added to retirement fund physique in March, 1.39 crore in 2022-23
