EPF Interest Rates: Regarding when the interest credit will be, EPFO says that the process of depositing the interest amount in the account for the financial year 2022-23 is going on and the subscribers will get their full money.
Employees Provident Fund Organization (EPFO) recently gave great news to crores of its subscribers. A very good news has come for more than 6 crore PF account holders that now the interest on their PF account will increase. On Saturday, it was announced to increase the EPF interest rate by 0.10 percent (EPF interest rate hiked). EPFO has fixed the PF interest rate at 8.25 percent for 2023-24. This is the highest in the last 3 years. After the approval of the government, the interest rate on EPF for 2023-24 will be deposited in the accounts of more than six crore subscribers of EPFO.
When will interest be credited to the account?
If you are not aware, then let us tell you that money from EPF account does not come into your account, or it is not the case that if the interest increases, the increased interest will come into your bank account. Money keeps getting deducted from your salary on EPF account, and you get annual interest on it. That is, the government revises the rate under this scheme once a year and then the interest on the funds deposited in your EPF account is calculated and credited in the same.
Let us tell you here that interest in EPF account is calculated on monthly basis, but it is credited to your account once a year. Regarding when will the interest credit be given, EPFO says that the process of depositing the interest amount in the account for the financial year 2022-23 is going on and the subscribers will get their full money.
Let us tell you that usually EPFO sends interest to the subscribers’ accounts at the end of the financial year, so subscribers should get the interest money in their accounts in March-April.
How to check EPF Balance?
You can check your passbook issued by EPFO online to find out whether interest money has been received in your account or not. There are many ways to do this – the process of checking through EPFO Portal, Missed Call, Umang App and SMS will be like this.
1. How to check passbook on EPFO portal
Step 1- First of all, go to EPFO Portal https://www.epfindia.gov.in/site_en/index.php. For this you must have your UAN (Universal Account Number) activated.
Step 2- Once the site opens, go to the ‘Our Services’ tab and then select the drop-down menu ‘for employees’.
Step 3- Click on ‘member passbook’ below the service column.
Step 4- On the next page you will have to enter your UAN and Password. Log in by entering the captcha.
Step 5- After login, enter member ID. After this your EPF balance will be visible. In this, you also get information about account balance, details of all deposits, establishment ID, member ID, office name, employee share and employer share.
2. How to check EPF passbook through missed call
You can check your EPF balance by giving a missed call on 011- 22901406. On making a call, you will receive an SMS in which your balance will be reflected. For this you will have to enter the mobile number registered with the EPF account. Along with your PAN and Aadhaar number, your bank account number should also be linked to your UAN.
3. How to check through SMS?
Like missed call service, all your important documents should be linked to UAN, only then you will be able to use this service. For this, you will have to SMS EPFOHO UAN ENG (or instead of ENG, write the code of whatever language you want the message in) to the number 7738299899.
4. How to check from UMANG App?
Step 1- Install UMANG (Unified Mobile Application for New-age Governance) app on your phone and log in. Your registered mobile number should be there in the phone.
Step 2- Click on ‘EPFO Option’ in the app.
Step 3- Now click on ‘Employee Centric Services’.
Step 4- On the next page, click on ‘view passbook’.
Step 5- On the next page you will have to enter your UAN, an OTP will be sent to your registered mobile number.
Step 6- Now login by entering the OTP, after login the details of your passbook will be in front of you.
