EPF interest rate reduced to 8.1% for 2021-22! Check PF balance now- Steps explained
EPFO members can check their PF balance online via UMANG App, SMS, missed call, or by EPFO website. Check the step-by-step process here.
Every member of the Employees' Provident Fund Organisation (EPFO) has a PF account. One of the biggest benefits of having a PF account is that it receives a good interest rate. However, EPFO on Saturday decided to lower the interest on provident fund deposits for 2021-22, according to a report by livemint.com. The interest rate will be the lowest since 1977-78, when the EPF interest rate stood at 8 percent. "The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees has decided to provide 8.1 per cent rate of interest on Employees Provident Fund (EPF) for 2021-22 in its meeting held on Saturday," a source said, as quoted by livemint.com.
For 2020-21 the interest rate on EPF deposit stood at 8.5 percent. The interest rate on EPF deposits for 2021-22, after the CBT decision, will be sent to the Ministry of Finance for approval. Only after the Finance Ministry ratifies the interest rate, the EPFO will provide it. If you have a provident fund (PF) account, you should check balance on a regular basis. So, if you want to check your PF balance, it can be easily done via the UMANG App, SMS, a missed call, or by visiting the official EPFO website.
If you want to check the PF balance, you can follow the below mentioned steps for the same:
How to check PF balance via UMANG App
For checking PF Balance via UMANG App, you will first have to download the app and then log in by entering your UAN and OTP (one-time password) to check the PF account balance.
How to check PF balance via SMS service
You can check your PF balance by sending a text message (SMS) to 7738299899 by typing 'EPFOHO UAN ENG' using your registered mobile number with the UAN (Universal Account Number).
It can be noted that the last three digits of the message represents the language in which you want to receive the message. This service is provided in nine languages including Hindi, Bengali, Tamil, Marathi, Gujarati, Kannada, Punjabi, Telugu and Malayalam.
How to check PF balance via Missed call
Registered users can give a missed call to 011-22901406 from their UAN registered mobile number after which they will receive an SMS with details of the PF account balance.
How to check PF balance via EPFO Website
Visit the official website of EPFO.
Select 'Our Services' tab and click on 'For Employees'.
Click on 'Member Passbook' and enter your UAN and password.
Once you do so you will be able to see your passbook. It can be noted that people who have worked in more than one organisation will have different member IDs to choose from.
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