New Delhi: Employees Provident Fund Organisation said on Monday, November 29, that 21.28 crore accounts have been credited with an interest rate of 8.5 percent for FY 2021-22, just days after providing approval to higher interest rates in provident fund accounts.
According to reports, the bonus will be distributed to as many as six crore account holders by the end of next month. The EPFO voted earlier this year to preserve the rate of interest on provident fund deposits at 8.5 percent for the fiscal year 2020-21. Representatives from the labour ministry had previously requested that the finance ministry expedite the decision to establish interest rates.
In a tweet on Monday, the EPFO wrote, “21.38 crore accounts have been credited with an interest of 8.50% for the FY 2020-21. @LabourMinistry @esichq @PIB_India @byadavbjp @Rameswar_Teli".
In light of the Covid-19 pandemic, which saw more withdrawals than contributions, the EPFO chose to leave interest rates constant for FY2021-22. When the epidemic hit the country in FY2020-21, the interest rate touched an all-time low.
Many consumers reported that they had received the extra rate of interest for the current financial year when the retirement organisation credited their accounts. However, how did they determine the account balance?
You can choose not to rely on your employer to supply the information because you can check your balance at any moment utilising various digital ways. Checking from the Umang App, EPFO member e-sewa website, SMS, or missed call are all options. Read on to learn more about them.
How to Check EPFO Balance via EPFO Member e-Sewa Portal
Using your activated Universal Account Number, you will be able to check your PF balance on the EPFO portal provided by the government (UAN). You can also use this site to download and print your e-passbook.
- To do so, go to www.epfindia.gov.in and select the 'For Employees' option from the dropdown menu under 'Our Services.'
- Then, under 'Services,' select 'Member Passbook,' where you must enter your UAN number and password to view your passbook.
This service requires an activated UAN, and it will not be available if your employer has not activated your Universal Account Number.
- If you don't have a UAN, go to epfoservices.in/epfo/ and choose your state before going to your office link.
- Click 'Submit' after entering your PF Account Number, name, and registered cellphone number. You'll be able to see how much money you have in your PF account.
How to Check EPFO Balance via SMS Service
- EPFO members having UANs on file with the retirement organisation can get an SMS with information on their most recent contributions and provident fund balance.
- All you have to do is send the text "EPFOHO UAN ENG" to the number 7738299899. 'ENG' stands for the initial three letters of your preferred language, in this case English. You can enter 'TAM' for Tamil, 'BEN' for Bengali, 'HIN' for Hindi, and so on if you want the SMS in that language. It is possible to use the service in ten different languages.
In this regard, you should remember to link your UAN to your bank account, Aadhaar, and PAN, as EPFO keeps track of its members' information. You can even request that your employer seed your lawn for you.
How to Check EPFO Balance via Missed Call Service
- Members of the Employees Provident Fund Organisation, or EPFO, can check their PF balance by dialling 011-22901406 and leaving a message.
- You must call from your registered phone number to do so.
- If you are registered on the UAN site, you will receive the information. In this case, you do not need to remember your UAN.
How to Check EPFO Balance via Umang App
Employees can check their provident fund balance via the government's Umang App. The software, which was launched by the government, may be used to access a variety of government services under one roof. You may see your EPF Passbook, claim your provident fund, and track your claim using this. An employee only needs to use their mobile number to register on the app