EPFO Interest: Do you know how much interest the government pays on the PF deducted by you. How is that interest calculated? When is interest credited to your account? Know the answers to all these questions in this news.
Unified Member Epfo Interest: If you are a PF account holder, then this news is of great use to you because let us tell you that the government has stamped the interest rate on the amount deposited in Employees’ Provident Fund Organization (EPFO). For the financial year 2021-22, 8.1 percent interest is to be given by the government on EPF. No information has been given by the Employees’ Provident Fund Organization about how long this interest amount will be transferred to the account of PF account holders. There are more than 7 crore account holders in the Employees’ Provident Fund Organization.
How much is the interest money?
Employees’ Provident Fund Organization (EPFO) is going to pay interest at the rate of 8.1 percent for the financial year 2021-22 in the account of PF account holders. There is no official confirmation from the government yet. However, according to the news, the government can put the interest money on the amount deposited in the PF account this month.
how the interest was calculated
How much payment will come in the account of any PF account holder, it depends on the amount deposited in his account. The higher the amount deposited, the more interest will be earned on it. Interest is to be given by the government at the rate of 8.1%. In this way, if an amount of ten lakh rupees is deposited in your PF account, then you will get 81000 rupees annual interest from the provident fund.
What does the government do with your PF?
EPFO invests the amount deposited in the PF account holder’s account in different ways. Some part of the profit earned from this invested amount is given to the PF account holder. Last month i.e. in August 2022 itself, it was told by the government that EPFO invests 85 percent of its funds in debt instruments. He invests 15 percent of the fund in Exchange Traded Funds (ETFs).
When is interest accrued?
Let us tell you that the interest is calculated on the basis of month by the PF department. But the interest in the PF account is deposited only after the end of the financial year. You can check your PF balance like this. You have to visit the EPFO website. There, after clicking on ‘Our Services’, a section of ‘For Employees’ will appear. After selecting on it, you have to click on Member Passbook. On the portal, you have to enter your UAN number and password. Apart from this, you can also download passbook through UMANG app. For this, you have to go to the EPFO section in the UMANG app. After logging in there, the option to download the passbook will come.
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