In the midst of the Coronavirus pandemic, people across the globe have suffered a huge financial loss. The economy of the country was massively affected due to the COVID which is why the PF money also got delayed. However, good news is coming for the members of the Employees’ Provident Fund Organization (EPFO). The retirement fund body may credit the government interest rate for the financial year 2020-21 (FY21) before Diwali.
According to reports, the Central Board of EPFO has approved the hike in interest rates and now it is now awaiting the approval of the Finance Ministry.
In March, the board had recommended 8.5% payment for FY21. EPFO has an estimated income of around Rs 70,300 crore in the last financial year, which includes around Rs 4,000 crore from selling a portion of its equity investments.
After the outbreak of Covid-19 in 2020, EPFO reduced the interest rate of PF to 8.5 percent in March 2020. This is the lowest interest rate in the last 7 years. In the financial year 2018-19, the interest rate was 8.65 percent. However, in the financial year 2017-18, it was only 8.55 percent. It is 8.5 percent for the financial year 2019-20.
Easy ways to check your PF balance
It is quite easy to check the balance of PF account while doing job or after. PF account balance checks are four very easy ways through which you can know about the amount deposited in a PF account. One of them is a missed call. EPFO has released the number for this. This is a toll-free number. PF amount can also be detected online or by SMS.
Check your PF balance through Missed call
If you are registered on the UAN portal, then you give a missed call on 011-22901406 from your registered mobile number. After this, a message will be received from EPFO. In this, you will get all the information about your PF account. It is also necessary that bank account, PAN, and Aadhaar are linked to UAN. No charges are levied for this service.
Check your PF balance through SMS
If your UAN is registered with EPFO, then your latest contribution and PF balance information can be obtained from a message. For this, you need to send EPFOHO UAN ENG to 7738299899. The last three letters are for the language. If you want information in Hindi, then you can send it by writing EPFOHO UAN HIN. The service is available in English, Punjabi, Marathi, Hindi, Kannada, Telugu, Tamil, Malayalam and Bengali. By sending this SMS from the registered mobile number of UAN, you will be able to find the balance.
Check your PF balance through Umang App
Employees Provident Fund Organization (EPFO) members can check their PF balance on mobile phones through the Umang app. The Umang app was launched by the government. With its help, all kinds of services of the Central and State Government can be obtained from one place. With the help of the app, you can claim in addition to viewing the EPF passbook. Claims can also be tracked through the app. After downloading the app on your mobile, you have to complete the registration once on your mobile number.
Check your PF balance through passbook on website
Instead of the unified portal, users can now view the PF passbook on a separate website as well. However, Unified Portal can still be used for services like transfer. First, you go to EPFO, click on Employee Centric Services, select view passbook and log in from UAN to view passbook.