EPF Interest Rates: Interest will be credited at the rate of 8.5 percent in the account of PF subscribers. The government has approved.
EPF Interest Rates: News agency PTI, citing sources, said that the Finance Ministry on Friday approved 8.5 percent interest rate of provident fund deposits for 2020-21 to credit the interest for Employees’ Provident Fund Organization (EPFO). gave. The retirement fund regulatory body kept the EPF interest rate unchanged for the financial year 2020-21 as there were more withdrawals than deposits during the entire financial year.
After the outbreak of Kovid-19 in 2020, EPFO in March 2020 reduced the PF interest rate to 8.5 percent for the financial year 2019-20. 7-year low of EPF interest rate. The EPF interest rate for the financial year 2018-19 was 8.65 percent. For the financial year 2017-18, the EPF interest rate was being given to EPFO subscribers at 8.55 percent while for the financial year 2016-17, the EPF interest rate given to the EPF account holders was 8.65 percent.
Meanwhile, EPFO net added 14.81 lakh subscribers in August 2021, indicating an increasing trend in net payroll for the first five months of this fiscal.
For the month of August, the net subscriber additions increased by 12.61 percent as compared to the previous month of July 2021. Out of the total 14.81 lakh net subscribers, around 9.19 lakh members have come under the social security cover of EPFO for the first time. .
About 5.62 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the EPF and MP Act, 1952.
How to Check PF Balance:
Around 6 crore EPFO subscribers are advised to keep checking their PF balance next week as the retirement fund regulator may deposit 8.5 per cent interest on EPF on any working day. EPF account holders can check their EPF balance through SMS and missed call.
Check pf balance through sms
An EPFO subscriber can check his EPF account balance by sending an SMS. PF balance check number is 7738299899 and text of SMS format is “EPFOHO UAN ENG”. Therefore, an EPF account holder, who has its UAN number, is advised to send an SMS in this format to 7738299899. On receipt of the SMS, EPFO will respond to that SMS with the details of the PF account balance of the sender.
Check pf balance by missed call
EPFO is running missed call service through its given number 011-22901406. To know the PF balance, EPFO subscribers are advised to give a missed call to this number from the registered mobile number. However, one can avail this service only if the EPFO member has linked his UAN with KYC details.
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