New Delhi: The ministry of finance has approved an interest rate of 8.5 percent on deposits in provident fund accounts for the fiscal year 2020-21. The decision, which will be implemented soon, will benefit almost six crore EPFO pensioners, as the retirement body will credit the money into their accounts in the coming days. Representatives from the labour ministry had asked the finance ministry earlier in October to expedite the decision to set the interest rate at 8.5 percent.
A minimum of 12% of an employee's base salary and performance wages must be deducted as provident fund contributions, with the employer contributing another 12%. If you're an employee, you may find out how much money you have in your provident fund when your employer gives you your EPF statement at the end of the fiscal year. As a result, you don't have to rely on your company to supply the information because you may check your balance at any time utilising various digital ways. Checking from the Umang App, EPFO member e-sewa website, SMS, or missed call are all options. Read on to learn more about them.
Umang App
Employees can check their provident fund balance via the government's Umang App. The software, which was launched by the government, may be used to access a variety of government services under one roof. You may see your EPF Passbook, claim your provident fund, and track your claim using this. An employee only needs to use their mobile number to register on the app.
EPFO Member e-Sewa Portal
Using your activated Universal Account Number, you will be able to check your PF balance on the EPFO portal provided by the government (UAN). You can also use this site to download and print your e-passbook.
To do so, go to www.epfindia.gov.in and select the 'For Employees' option from the dropdown menu under 'Our Services.' Then, under 'Services,' select 'Member Passbook,' where you must enter your UAN number and password to view your passbook. This service requires an activated UAN, and it will not be available if your employer has not activated your Universal Account Number.
SMS Service
EPFO members having UANs on file with the retirement organisation can get an SMS with information on their most recent contributions and provident fund balance. All you have to do is send the text "EPFOHO UAN ENG" to the number 7738299899. 'ENG' stands for the initial three letters of your preferred language, in this case English. You can enter 'TAM' for Tamil, 'BEN' for Bengali, 'HIN' for Hindi, and so on if you want the SMS in that language. It is possible to use the service in ten different languages.
In this regard, you should remember to link your UAN to your bank account, Aadhaar, and PAN, as EPFO keeps track of its members' information. You can even request that your employer seed your lawn for you.
Missed Call Service
Members of the Employees Provident Fund Organisation, or EPFO, can check their PF balance by dialling 011-22901406 and leaving a message. You must call from your registered phone number to do so. If you are registered on the UAN site, you will receive the information.
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