Before Diwali, 6 crore account holders of Employees’ Provident Fund Organization (EPFO) have got great news. According to news agency PTI sources, the Finance Ministry has approved credit of interest to PF account holders. After the approval of the Ministry of Finance, 8.5% interest on provident fund deposits in the account of account holders for the financial year 2020-21 will soon reach.
A source said on Friday, “The Finance Ministry has confirmed the interest rate on EPF for 2020-21 and now it will be credited to the accounts of over five crore customers. In March last year, the EPFO had reduced the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20. EPFO had provided 8.65 per cent interest rate to its members in 2016-17 and 8.55 per cent in 2017-18. The interest rate was slightly higher at 8.8 per cent in 2015-16.
How much interest did you get on EPF in which year
| financial year | Rate of interest |
| 2020-21 | 8.5 |
| 2019-20 | 8.5 |
| 2018-19 | 8.65 |
| 2017-18 | 8.55 |
| 2016-17 | 8.65 |
| 2015-16 | 8.8 |
| 2014-15 | 8.75 |
| 2013-14 | 8.75 |
| 2012-13 | 8.5 |
| 2011-12 | 8.25
|
Check balance like this
Let us tell you that you can also know your EPF balance through a missed call. For this, you have to make a missed call on 011-22901406 from your registered mobile number. Apart from this, log in to the portal through your UAN and password. In this, click on Download / View Passbook and then the passbook will open in front of you, in which you can see the balance.
The Central Board of Trustees of EPFO, headed by the Labor Minister, had in March this year approved the same interest rate of 8.5% for 2020-21 as in the previous year. However, the labor ministry has to compulsorily take approval from the finance ministry on the proposed rate. Top officials of the labor ministry earlier this month met finance ministry officials and asked them to expedite the process after answering their queries. Now it is reported that the Finance Ministry has given its approval. This is going to benefit more than 6 crore PF account holders.
The EPFO had estimated income of around Rs 70,300 crore in the last financial year, which included around Rs 4,000 crore from selling a part of its equity investments and Rs 65,000 crore from debt.
You can also check balance through SMS
To send EPFO UAN LAN (Language) to 7738299899 from mobile number registered with EPFO. LAN stands for your language. If you want information in English, you have to write ENG instead of LAN. Similarly HIN for Hindi and TAM for Tamil. To get information in Hindi, you have to message by writing EPFOHO UAN HIN. At the same time, open the UMANG app and click on EPFO. In this, click on Employee Centric Services and after that click on View Passbook and enter UAN and Password. OTP will come on the registered mobile number. After entering it, you can see the EPF balance.
