PF Account Holders To Get New Year Gift Soon; 8.5 Per Cent Interest To Be Deposited In Their Account
In the difficult times of the Corona epidemic and lockdown, the Employees Provident Fund Organization (EPFO) helped its 6 crore account holders a lot. Now the government is preparing to give a New Year gift to these account holders.
According to the information, the Labour Ministry has sent a proposal to the Finance Ministry to deposit the interest amount of PF for the financial year 2019-20 at a rate of 8.5 percent in one go to the EPF account.
It is believed that the Finance Ministry can take a decision on this at any time and in this way, this amount of interest will be deposited in the accounts this month. That is, the balance in EPF accounts of 6 crore workers is going to increase.
Let me tell you, earlier in September, after a meeting chaired by Labour Minister Santosh Gangwar, there was news that EPFO will pay interest in two installments. The first installment will be 8.15 percent, while the remaining 0.35 percent interest will be deposited in the second installment. However, the good thing is that now this amount will be deposited together. Earlier, in a meeting of the Central Board of Trustees (CBT) held in the month of March, the apex decision making body of EPFO, the 8.5 percent interest rate on EPF was approved for 2019-20.
Now the Finance Ministry’s approval on the proposal of the Ministry of Labor is awaited. Immediately funds will start accumulating in the accounts.
It is also very easy to find out whether the amount has been deposited or not. One can find out the total amount deposited in the account by giving a missed call on 011-22901406 from his mobile number registered with EPFO. Calling this number automatically disconnects the call after two bells. There will be no money for this service. For more information visit this link https://unifiedportal-mem.epfindia.gov.in/memberinterface.