The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021.
New Delhi: EPFO’s apex decision-making body Central Board of Trustee will take a call on interest rate on employees’ provident fund deposits for 2021-22 in its meeting next month.
On the matter related to maintaining the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Union Labour Minister and CBT head Bhupender Yadav told PTI that the decision would be taken on the basis of income projection for the financial year.
The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021. It was ratified by the finance ministry in October 2021 and thereafter, EPFO issued directions to field offices to credit the interest income at 8.5 per cent for 2020-21 into the subscribers’ account. Once CBT decides an interest rate on EPF deposits for a fiscal year, it is sent to Ministry of Finance for concurrence.
In March 2020, EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19. The EPF interest rate provided for 2019-20 was the lowest since 2012-13, when it was brought down to 8.5 per cent. EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16. It had given 8.75 per cent rate of interest in 2013-14 as well as in 2014-15, higher than 8.5 per cent for 2012-13. The rate of interest was 8.25 per cent on provident fund in 2011-12.
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Know how to check EPF account balance ONLINE
Log on to epfindia.gov.in
Feed in your UAN number, password and captcha code
Click on the e-Passbook
Once you file all the details, you will land up on a new page
Now open member id
Now you can see the total EPF balance in your account
How to check EPF balance through UMANG App
Open the UMANG App
Click on EPFO.
Click on Employee Centric Services
Click on the View Passbook option
Feed in your UAN number and password
You will get OTP on your registered mobile number
Now you can now check your EPF balance
Read more:EPFO subscribers, Alert! Decision on interest rate for 2021-22 soon, check latest update
How to check EPF balance through SMS
Apart from the mobile number, the members registered on the UAN portal may get their PF details by sending an SMS from their registered mobile numbers. For this, you are required to SMS ‘EPFOHO UAN’ to 7738299899.
How to check EPF balance through MISSED Call
EPFO subscribers, registered on the UAN portal, may get their PF details available with the Employees’ Provident Fund Organisation by giving a missed call at 011-22901406 from their mobile number registered with UAN.
With PTI Inputs
