More than 6 crore account holders of Employees’ Provident Fund Organization (EPFO) can get great news on Diwali. According to several media reports, EPFO may soon announce interest transfer in the accounts of more than 60 million of its subscribers for 2020-21. The government has already approved the transfer of 8.5 percent interest on PF to the accounts of the subscribers for the financial year 2020-21.
During the corona pandemic, there was more withdrawal and less contribution from the members, hence the decision was taken. Following the country’s coronavirus outbreak, the EPFO in March slashed the interest rate for 2019-20 to a seven-year low of 8.5 per cent. The interest rate in 2018-19 was 8.65 percent. For the financial year 2017-18, EPFO offered an interest rate of 8.55 per cent to its subscribers. The interest rate in 2016-17 was 8.65%.
Citing the Corona pandemic, the EPFO recently allowed members to withdraw money from their retirement corpus in the form of non-refundable advances. The central government in March 2020 made a new provision under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) that allows EPF members to withdraw three months’ basic salary and dearness allowance (DA) or 75 per cent of their provident fund money as advance. will allow, whichever is less.
In order to support its customers during the second wave of corona pandemic, EPFO has now allowed its members to get second non-refundable corona advance. The provision of special withdrawals was introduced in March 2020 under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) to meet the financial need of the members during the pandemic.
If you are also an EPFO account holder, then interest money can come in your account soon. If you do not know how to check PF balance, then let us tell you that it is very easy and it can be detected in four different ways. Know what these tips are.
Through missed call:
- You have to make a missed call on 011-22901406 from the register number linked with the PF account.
- Immediately after making a missed call, you will receive a message on your register number containing the PF balance details.
Via SMS:
- You can check PF account balance through SMS but for this your UAN number should be registered with EPFO.
- SMS to 7738299899 by writing EPFOHO UAN from the registered mobile number.
If you want balance details in a language other than Hindi, you will need a three-letter input for the language. - You have to type the code. For Hindi, you have to message by writing EPFOHO UAN HIN.
UMANG App
- Download UMANG App on your smartphone from Play Store.
- Register your phone number and log in to the app.
- Go to the menu in the top left corner and navigate to ‘Service Directory’.
- Click here to find EPFO Option.
- Here by going to View Passbook, check the balance through your UAN number and OTP.
Through EPFO website:
- Log on to EPFO website. Click on ‘In’ on e-Passbook.
- A new page ‘In’ will appear on clicking on the e-passbook.
- You have to fill your username (UAN number), password and captcha.
- After filling all the details you will come to a new page and here select member id.
- Here you will get your EPF balance on e-passbook.
