New Delhi: The Employees Provident Fund Organization (EPFO) can pay a lump-sum 8.5 percent interest for the financial year 2019-20 before 31 December in its account of more than 6 crore subscribers. The news agency PTI quoted sources as saying that the Labor Ministry has now sent a proposal to the Finance Ministry to put the interest amount payable for the financial year 2019-20 at the rate of 8.5 percent in one time EPF account. The proposal was sent by the ministry earlier this month.
It is noteworthy that in September 2020, Union Labor Minister Santosh Kumar Gangwar had said that in the meeting of the trustees, it has been decided to give the interest for the financial year 2019-20 as two installments of 8.15 per cent and 0.35 per cent. The 8.5 percent interest rate on EPF for the financial year 2019-20 was approved in a meeting of the Central Board of Trustees (CBT), the apex decision making body of EPFO led by Labor Minister Gangwar.
Find EPF balance with missed call
Registered members on the UAN portal can know the balance of their account by giving a missed call. Make a missed call from the registered mobile number on 011-22901406. This call will automatically disconnect after two bells. After this, EPF details will be received through the message of EPFO.
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EPFO settles 52 lakh claims related to Kovid-19
EPFO, the organization that operates the Retirement Fund, has handled 52 lakh cases of withdrawal of funds from provident fund accounts during corona virus infection. Under this, an amount of Rs 13,300 crore was released to the applicants. This amount was released as an advance claim without refund. Labor Minister Santosh Gangwar gave this information on Wednesday. In March this year, the government allowed more than six crore shareholders associated with the Employees Provident Fund Organization (EPFO) to withdraw a maximum of three months’ basic salary from their provident fund account along with dearness allowance. In view of the lockdown imposed during the epidemic, Provident Fund shareholders were given this facility.
Addressing the Foundation Week program of the Chamber of Commerce and Industry Assocham, Gangwar said that during the epidemic, the EPFO settled 52 lakh Kovid-19 evacuation claims and released Rs 13,300 crore to the applicants.
The Central Government also launched the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on 26 March to support the economically weaker sections of the society during the epidemic. The government also made a provision for withdrawal from the Employees Provident Fund (EPF) and a necessary notification was issued in this regard. Under this, provision was made for withdrawal of EPF holders from their account with dearness allowance equal to three months basic salary or 75% of the provident fund available in the account of the employee, whichever is less.
