Provident Fund Alert: The EPFO also said that the money will be transferred to the account of all the account holders soon.
Provident Fund Alert: If you are a subscriber of provident fund and have not received your interest yet, then don’t worry, your interest rate will credited to your account soon, the EPFO has said in a tweet recently. Notably, the EPFO will credit the interest amount to the customers account at the rate of 8.5 percent. Earlier this money was to be transferred to the customers’ account in the month of July, but due to some reasons the money transfer got delayed. Many took to the social media to express their resentment. However, the EPFO has written in the reply to the mail of a subscriber that the process of crediting the interest amount is in the pipeline. The EPFO also said that the money will be transferred to the account of all the account holders soon. Apart from this, the entire amount of interest will be paid in one go, it said and added that there will be no loss of interest to anyone. But the EPFO has not made it clear when the interest money will be transferred to the account of the subscribers.
Due to the COVID pandemic, the retirement fund regulatory body has this year kept the EPF interest rate unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year.
After the Covid outbreak in 2020, the EPFO had reduced PF interest rate in March 2020 to 8.5 per cent for FY 2019-20 — 7 years’ low of EPF interest rate. For FY 2018-19, EPF interest rate was 8.65 per cent. For FY 2017-18, EPF interest rate being given to the EPFO subscribers was 8.55 per cent while for FY 2016-17, EPF interest rate given to EPF account holders was 8.65 per cent.
It must be noted that the money gets transferred to the EPFO account every month on behalf of the company. There is a fixed amount which gets deducted from the salary of the employees and the company also contributes the same amount.
However, the employees can check their account to know their PF balance. Your can know the PF balance by logging into the EPFO website and by SMS.
How to check PF balance through EPFO?
EPFO subscribers can check their PF account balance through UMANG app. For this, you have to register it by downloading it on your phone.
- You have to go to EPFO for this.
- Click on Employee Centric Services.
- Now click on View Passbook.
- To view passbook, you have to log in with UAN.
How to check PF balance through SMS
An EPFO subscriber can check EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is “EPFOHO UAN ENG.”
