EPFO Interest Payment: There is good news for more than 6 crore subscribers of Employees’ Provident Fund Organization (EPFO) amid the Corona epidemic.
EPFO Interest Payment: There is good news for more than 6 crore subscribers of Employees’ Provident Fund Organization (EPFO) amid the Corona epidemic. The interest amount can be transferred to the account of EPF account holders by the end of July. According to the information received by Zee Business, EPFO can send 8.5 percent interest for the financial year 2020-21 to the account of EPF subscribers by the end of July. It has been approved by the government. Last time in the financial year 2019-20, due to the disturbance in KYC, many subscribers had to wait for a long time of 8 to 10 months to get interest. 6.44 crore people in the country come under the purview of PF.
PF interest rate lowest in 7 years
The EPFO had retained the interest rates for the financial year 2020-21 at 8.5 per cent without any change. This is the lowest interest rate on EPF in the last seven years. Earlier, in the financial year 2012-13, the interest rates on EPF were 8.5 per cent. In March last year, the EPFO had changed the interest. In the financial year 2018-19, 8.65 percent interest was received on EPF. EPFO had given 8.55 percent interest in the financial year 2017-18. It was 8.8 per cent in the financial year 2015-16 and 8.75 per cent in 2013-2014.
How to see your PF balance
Via the EPFO website
First of all, go to the EPFO website epfindia.gov.in/. There, by going to the Services section, click on For Employees. After this click on Member Passbook in Services. Log in by entering UAN number, password and captcha. Select your member ID on the new page. Click on View Passbook. After this, here you will get complete details related to the balance in the EPF account and will also be able to see the interest.
via SMS and missed call
EPFO subscribers can send SMS from their mobile number registered with EPFO to check EPF balance. SMS to 7738299899 by writing EPFOHO UAN from the registered mobile number. If you want the details related to the balance in the EPF account in any language including Hindi, then you will have to write a three-letter code of the language. For example, to get information in Hindi, you have to message by writing EPFOHO UAN HIN. Apart from this, EPF balance can also be called by making a missed call on 011-22901406 from the mobile number registered with EPFO.
Via UMANG App
EPFO subscribers can also check balance from UMANG App. For this, first of all open UMANG app and click on EPFO. Click on Employee Centric Services. After clicking on the passbook option, enter the UAN number and password. OTP will come on the registered mobile number. After filling it, you will be able to see the EPF balance.
EPF account holders get exemption in Corona
In the midst of the second wave of the Covid-19 pandemic, the Employees’ Provident Fund Organization (EPFO) has allowed its subscribers to withdraw non-refundable Covid advances for the second time. In March last year, the government had given the facility of taking advance to EPF subscribers under the Pradhan Mantri Garib Kalyan Yojana (PMGKY). Under this, subscribers could withdraw 75% of the amount deposited in their PF account or the amount equal to three months’ salary (basic and DA), whichever is less. This withdrawn amount is also non-refundable, that is, it does not need to be returned. The amount withdrawn will be deducted from their PF balance.
