The PF account (PF account) of about 40 lakh subscribers of the Employees Provident Fund Organization (EPFO) has not yet accumulated 8.5 percent interest declared for the financial year 2019-20. This is due to mismatch of employee information in their KYC. The EPFO stated that the mess was from the employer. According to a report published in the English newspaper Mint, due to mismatched KYC, 8 to 10 percent of the EPF subscribers’ accounts have not yet been credited for the financial year 2019-20.
On 31 December 2020, the Modi government approved the payment of 8.5 percent interest payable in the EPF account for 2019-20, giving a new year gift to around 6 crore EPF subscribers . On the same day, Labor and Employment Minister Santosh Gangwar announced that PF subscribers will start receiving interest from January 1 in their PF account.
An EPFO official said that about 8 to 10 percent of PF subscribers have not yet received the interest amount in their account. This is due to their mismatched KYC. However, officials are also surprised at how this delay occurred when every transaction is done online.
Loss due to lack of KYC
It is very important that the Employees Provident Fund account is KYC. If KYC is not correct or not complete then you cannot avail the online service of EPFO. Money cannot be withdrawn from a PF account without KYC. In the absence of KYC, EPFO members will be deprived of the benefits of many online services of the e-seva portal. These include services such as money withdrawal, account transfer, nomination.
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Get KYC done at home
EPFO subscribers can get their KYC done at home. For this, you have to click on the KYC option on the UAN portal. Here you have to provide your PAN, Aadhaar, mobile number and bank account information. After this your PAN and Aadhaar will be linked to the UAN portal. However, the employer will have to ask for it to be verified.
Check your EPF account balance online like this
If you are a subscriber to EPFO, you can check your Provident Fund information yourself. EPFO subscribers can do so through multiple methods such as SMS, online, missed call and umang app.
Log on to epfindia.gov.in.
Enter your UAN number, password and captcha code.
Click on e-Passbook.
After filling all the information, a new page will open in front of you.
Now select the member id.
Now you can see the total EPF balance in your account.
Check EPF balance in this way through the Umang app
Open the Umang app in mobile.
Click on EPFO.
Click Employee Centric Services.
Click on view passbook option.
Fill in your UAN number and OTP.
Now you will get complete information about EPF balance.
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EPF balance information via SMS
Apart from the mobile number, registered members on UAN portal can also get PF information by sending an SMS from their registered mobile number. For this, you need to send an SMS to 7738299899 by writing EPFOHO UAN.
Find out EPF balance in this way by giving a missed call
You can also know the status of the balance deposited in your PF account by giving a missed call through your mobile number registered with UAN on EPFO Subscribers 011-22901406 registered on the UAN portal.
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