New Delhi: EPFO subscribers may get the due interest in their accounts after Diwali, according to some media reports. Lakhs of EPFO subscribers are waiting for the interest in their accounts. The Center approved an employee provident fund (EPF) interest rate of 8.1% for the years 2021–2022, which is a four-decade low. Significantly, the EPF interest rate of 8.1% is the lowest it has been since 1977–1978.
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The Union Finance Ministry had earlier this month said that the EPF interest amount is being credited into the accounts of employees’ provident fund (EPF) subscribers, and in case it was not visible in the statements, it was because the EPFO software is being upgraded . Finance Ministry also stated that there is no loss of interest amount for any subscriber.
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“There is no loss of interest for any subscriber. The interest is being credited in the accounts of all EPF subscribers. However, that is not visible in the statements in view of a software upgrade being implemented by EPFO to account for change in the tax incidence,” the finance ministry had said in a tweet.
The Central Board of Trustees (CBT) decided to pay 8.5 percent interest on EPF contributions year 2020–21 in March of last year. The EPFO subscribers should be aware that the CBT is a tripartite body of the EPFO that includes representatives of the government, employees, and employers, and that the CBT’s decisions are binding on the EPFO. The labor minister is in charge of the EPFO.
How To Check PF Balance on official site?
- Visit epfindia.gov.in
- Fill in your UAN number, captcha code and password
- Click on the e-Passbook
- After filling all the details, you will be redirected to a new page
- Open member ID
- Now, you can see the total EPF balance in your account
How To Check PF Balance Through SMS?
You can check the PF balance through SMS from the registered mobile number. You need to SMS ‘EPFOHO UAN’ to 7738299899.
How To Check PF Balance Through Missed Call?
The EPF subscribers can also check PF amount through a missed call. Just give a missed call at 011-22901406 from mobile number linked with UAN.