The authorities on 24 July accepted the advice of the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) to extend the rate of interest of deposits in Provident Fund (PF) to eight.15 %.
Since the announcement, many EPF members have been ready for the curiosity quantity to be credited of their EPF account. One of the customers on Twitter wrote, “When we are going to get the curiosity added to our passbook for FY 2022-23″, to which EPFO responded saying, “The process is in pipeline and may be shown there very shortly. Whenever the interest will be credited, it will be accumulated and paid in full. There would be no loss of interest. Please maintain patience.”
Earlier Amit Gupta, MD, SAG Infotech had instructed Mint, “At the tip of the monetary 12 months, the entire curiosity for the 12 months is credited.”
Although, curiosity is calculated on a month-to-month foundation in an EPF account, nonetheless, they’re deposited on the finish of a monetary 12 months. The transferred curiosity is added to the following month’s steadiness and is then compounded to calculate curiosity on that month’s steadiness quantity.
Once the quantity is credited, customers can verify their EPF steadiness by way of varied modes together with EPFO web site, SMS, missed calls, and even the Umang App.
Here’s how customers can verify their EPFO steadiness on web site:
-Visit EPFO’s official web site – epfindia.gov.in.
-On the homepage, click on on Services, underneath this, click on on ‘For Employers’
-After this, you may be redirected to a brand new web page, whereby underneath ‘Services’, click on on ‘Member Passbook’ after which a login web page will seem.
-Now check in into your account by getting into the UAN, password and captcha
-Now you possibly can verify your account particulars and the quantity contributed by you as properly the employer. Once the curiosity is credited, account holders may also have the ability to view the main points relating to it.
In order to verify the EPFO steadiness through SMS, customers want Type to ‘EPFOHO UAN ENG’ ship it to 7738299899 from their registered cell quantity.
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Updated: 06 Aug 2023, 11:32 AM IST