EPFO to Credit 8.25% Interest Soon: PF Account Holders May Get Up to Rs 40,000
EPFO: As you know, all employees in both government and private companies have a PF account. A certain amount gets deposited into this account every month. The government adds interest to this amount every year.
Major relief for PF account holders from EPFO
EPFO is set to credit the annual interest for this financial year. Depending on the balance, some account holders could get up to Rs. 40,000 as an additional benefit, all in interest.
How much profit will you get with 8.25 percent interest?
For this fiscal year, EPFO is offering an 8.25% interest rate. Those with higher PF savings get more interest. For example, a balance of Rs. 5 lakh could earn you Rs. 40,000.
How does the interest crediting process work?
Each year, EPFO calculates interest on your PF balance and deposits it right into your account. You don't need to apply for it. Once credited, you'll see it in your passbook.
How to check PF balance?
* First, open the EPFO UAN member portal in your browser.
* Enter your UAN number and password to log in.
* Verify the OTP sent to your registered mobile.
* After logging in, click on the “Passbook” option.
* Your PF balance details will be displayed there.
How to do it through the UMANG app?
* Download the UMANG app from the Play Store.
* After logging into the app, type EPFO in the search box.
* Click on the “View Passbook” option.
* Enter your UAN number.
* Enter the OTP received on your mobile.
* Select your member ID and open the passbook.
* Your latest PF balance will be visible there.
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