EPFO offers various online services to its members, such as online registration, account balance checking, and claims settlement.
The EPFO passbook is a document that provides a summary of your Employees’ Provident Fund (EPF) account. It includes information such as your contributions, interest earned, and withdrawals. The passbook is an important document for tracking your EPF account and ensuring that your contributions are being made correctly.
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EPFO is a statutory body of the Government of India under the Ministry of Labour and Employment. EPFO is responsible for managing the provident fund, pension, and insurance schemes for employees in the organised sector in India.
EPFO offers various online services to its members, such as online registration, account balance checking, and claims settlement. It has a robust online portal where employees and employers can access their accounts and avail of different services.
EPFO Passbook
You can access your EPFO passbook online through the EPFO website or mobile app. To do this, you will need your Universal Account Number (UAN) and password. Once you have logged in, you can view your passbook by clicking on the “Passbook” tab.
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Is there any financial loss to EPF members due to the delay in updating of interest in the member passbook?
According to EPFO, updating of member’s passbook with interest is an entry process. The date on which the interest is entered in the passbook of the member has no actual financial bearing as the interest earned for the year on their monthly running balances is always added to the closing balance of that year and it becomes the opening balance for the next year.
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Hence, the member does not suffer any financial loss in case there is any delay in updating interest in their passbook.
Further, if a member withdraws EPF dues before the interest is updated in their passbook, in that case also, at the time of claim settlement, the due interest is calculated and paid from the date it becomes due automatically by the system.
Hence, in this case too, there is no financial loss to a member.
