EPF Interest: People have been waiting for EPF interest money for a long time. EPFO had announced in February 2024 that the interest rate for the financial year 2023-24 is going to come for provident fund deposits. Let us tell you that EPFO increased the rate of 8.15% last year to 8.25% in 2023-24. Let us know about it in detail.
EPF Interest: The Employees Provident Fund Organization (EPFO) announced good news for all the subscribers in February 2024 that the interest rate for the financial year 2023-24 (FY24) has been increased to 8.25%. At present, people are very eagerly waiting for its interest to come. Now the question arises that by when will this amount come to the people in the EPFO account. Let us know about it.
EPFO accepted inquiries on social media about FY24 interest credit. He confirmed that the process is underway and the interest will be reflected in your account ‘very soon’. Members have been assured that there will be no reduction in interest due to the delay.
Return rate will be better than last year
Let us tell you that by March 2024, interest for FY 2022-23 has already been credited to the accounts of 28.17 crore EPFO members. You can find out these money by checking your EPF passbook.
EPF scheme is a mandatory savings and retirement scheme for salaried employees.
Both the employee (12%) and the employer or company (12% contribution, out of which 8.33% goes to EPS) contribute to your EPF account.
The Central Board of Trustees (CBT) of EPFO has recommended an interest rate of 8.25% for FY 24, up from 8.15% last year. This means that you will get better returns on your contribution.
How to check your EPF balance
If you want to check your EPF balance, there are four ways to do it. You can use Umang App, EPFO Members Portal and other facilities.
UMANG App: Download Umang App and register on it. Select EPFO and then select ‘View Passbook’. After this, enter your UAN and OTP to view your balance.
EPFO Members Portal: Go to the Employees section on the EPFO website. After this click on ‘Member Passbook’. Now use your UAN and password to access your PF details here.
Missed Call- Apart from these methods, you also have the option of missed call. For this, you have to make a missed call from your UAN registered mobile number to 7738299899. Here you will get an SMS with the details of your new contribution and balance.
SMS: You can also find out the balance through SMS. For this, you need to send an SMS with the message ‘UAN EPFOHO ENG’ (or their code for information in another language) to 7738299899. For this method to work, make sure that your UAN is linked to your bank account, Aadhaar and PAN.
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