The Labor Ministry has decided to notify the 8.5 percent interest rate for 2019-20 on the Employees Provident Fund (EPF), a retirement fund with more than six crore account holders, after getting the consent of the Finance Ministry. "The Labor Ministry has decided to notify an interest rate of 8.5 percent for depositing more than six crore account holders of the Employees Provident Fund Organization (EPFO)," a senior official told PTI-Bhasha.
The official said that after getting the consent of the Finance Ministry, the rate of interest on EPF was given formal approval by Labor Minister Santosh Gangwar on Thursday.
Now the interest rate in the official gazette will be officially notified, after which the EPFO headquarters will give instructions to deposit interest in the accounts of the account holders.
In March this year, the Central Board of Trustees, the supreme decision-making body of the EPFO, approved the 8.5 percent interest rate on the EPF for 2019-20 under the chairmanship of Gangwar. In September this year, the EPFO decided to split the 8.5 percent interest in two installments of 8.15 percent and 0.35 percent at a meeting of its trustees headed by Gangwar. However, later the ministry decided to put the entire 8.5 percent contribution in the accounts of the account holders at one go.
Know balance through missed call - give a missed call from your registered mobile number on 011-22901406. After this, PF details will be received through the message of EPFO. Here also you must have UAN, PAN, and Aadhaar link.
PF balance can be checked online like this
1 log in to the EPFO website. Click on e-passbook at epfindia.gov.in
2 Clicking on the e-passbook will bring a new page to passbook.epfindia.gov.in.
3 Here you have to fill in your username (UAN number), password, and captcha.
4 After filling in all the details, they will come to a new page and member ID has to be selected here.
5 Here you will get your EPF balance on the e-passbook.
Balance can also be checked on the Umang app
- Open your Unified Mobile Application for New-age Governance and click on EPFO.
- On another page, you have to click on employee-centric services.
- Click on View Passbook here. Fill in your UAN number and password (OTP) number. OTP will come to your registered mobile number. After this, you can check your PF balance.
What Happens UAN Number - EPFO provides Universal Account Number (UAN) service through which account holders can see their PF account balance. This number is like a bank account.
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