EPF interest to be credited soon. How to check your PF balance

Employees Provident Fund members are soon to receive money. EPFO will make interest credit of the previous financial year in their account on any day.

Employees Provident Fund members are soon to receive money. EPFO will make interest credit of the previous financial year in their account on any day. Most importantly, the interest for the financial year 2019-20 will come in two instalments. The view is that this time the interest in the members’ account will be credited twice. For the first time, the deposit will be at 8.15 per cent. The second time will be 0.35 per cent. The decision was taken at epfo’s board meeting.

Get interest twice

According to Prabhakar Banasure, member, Central Board of Trustees, 8.5% interest was confused due to covid, but the board has decided that 8.15 interest will be paid to subscribers in September and the remaining 0.35% will be given in December. Banasure told Zee Business that all subscribers need Rs 61,000 crore to pay interest at 8.5% interest and EPFO has an amount of Rs 58,000 crore.

Share in ETF to be sold

EPFO will sell the share of investment in its ETF, the share that will be sold, its current value is Rs 2800 crore and there is a shortfall of 2500 crore capital to pay 8.50% interest, selling a share in equity ETF investment in December.

Checking your passbook

EPF members should keep to know how much money their account is and how much interest is getting. It is important that they check their account amount regularly. A great way to check passbook or know your account balance is EPFO’s missed call service. A helpline number has also been issued for the same. You can also know pf balance online or from SMS.

Find out pf balance from missed call

Epfo will have to make a missed call on 011-22901406 from your registered mobile number. You also receive a message immediately after a mixed call. This message comes from AM-EPFOHO. The message contains all the information about your account. Member ID, PF Number, Name, Date of Birth, EPF Balance, Final Contribution. If your company is a private trust, you will not get the balance detail. You’ll need to contact your company for this.

Check PF Balance and Passbook Online

1- EPFO has facilitated epf balance check on its official website. You will find a link to the e-passbook in the upper right of the website.

2- The person will then have to enter the UAN number and his/her password.

3- After entering the UAN number and password on the website, you need to click on the View Passbook button and you will know the balance there.

Can balance check from the app

Also, the PF balance can be traced from epfo’s app. Click on the member first and then enter the UAN number and password.

Deposits are fixed amount

An amount is fixed for depositing money in PF. Employees and companies are to pay 12 per cent of the basic salary and dearness allowance (DA) every month. 8.33% of the 12 per cent amount goes to EPF kitty. 3.67 per cent of the share is deposited in the EPF.