The Employees’ Provident Fund Organization (EPFO) has deposited interest at the rate of 8.50 percent in the accounts of more than 23 crore subscribers for the financial year 2020-21.
EPFO said on the official Twitter handle that in the financial year 2020-21 so far, money has been transferred at the rate of 8.50 percent to the accounts of 23.44 crore people. If you also want to know whether money came in your PF account or not, then you can immediately check your PF account balance by these methods.
You can also check your balance through SMS
by sending EPFO UAN LAN (language) from mobile number registered with EPFO to 7738299899. LAN stands for your language. If you want information in English, then instead of LAN, you have to write ENG. Similarly, HIN is to be written for Hindi and TAM for Tamil. To get information in Hindi, you have to message by writing EPFOHO UAN HIN.
PF Balance: On behalf of the Modi government of the Center, interest money is being transferred to the PF account. The government has started transferring interest in the accounts of 6.5 crore people. On behalf of the Modi government, EPFO is transferring interest money (PF interest) to the accounts of the subscribers of Provident Fund (PF). Its message has also started getting people on the phone.
If you also want to know how much money has come in your account, then here we are telling you the complete calculation…
- This year so much interest will come in PF account
- Here the interest on PF is calculated on the basic salary of Rs 15000.
- Basic Salary + DA = Rs 15,000
- Employee’s share in EPF = 12% of Rs 15,000 = Rs 1,800
- Company’s contribution to EPS = 8.33% of Rs 15,000 = Rs 1,250
- Company’s contribution to EPF = Employee’s share – Company’s contribution to EPS = Rs 550
- This much money goes to EPF every month = Rs 1800 + Rs 550 = Rs 2,350
- Interest rate for the financial year 2019-20 = 8.50 %
- Accordingly, this will be the interest every month = 8.50 % /12 = 0.7083 %
Interest will be calculated like this
- EPF account balance at the end of April = Rs 2,350
- In the month of May, the EPF account will have this much contribution = Rs 2,350
- Total deposits in EPF account at the end of May = Rs 4700
- At the end of May, EPF will be deposited so much interest = Rs 4700 X 0.7083% = Rs 33.29
- Interest will be available at the end of May = Rs 33.29
- Based on this, the interest for the coming months will also be calculated.
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