Centre to credit PF interest amount for employees this festive season, likely before September 16: Report

The central government is set to credit 8.25% interest to Provident Fund (PF) accounts before September 16. Over 7 crore employees will benefit, receiving amounts based on their account balance. PF balance can be checked via the UMANG app, EPFO portal, or SMS services.

With the festive season approaching, the central government plans to give a major gift to Provident Fund (PF) employees by crediting interest.

Sources suggest PF interest will be credited to central government employees' accounts by September 16, with an interest rate of 8.25%.

For instance, if an employee has Rs 4 lakh in their PF account, they can expect Rs 33,000 in interest this year.

Similarly, an employee with Rs 2 lakh in their PF account will receive Rs 16,500 in interest, helping combat inflation and price hikes.

More than 7 crore PF account holders are expected to benefit from this interest payment. An official announcement is expected soon.

Employment Provident Fund is mandatory for salaried employees in companies with 20+ employees, with 12% of monthly income deposited in the account.

Out of 12%, 3.67% goes to the Employment Fund, while 8.33% is directed to the Employment Pension Scheme. The new interest rate is 8.25%.

To check your PF balance, you can use the UMANG app, EPFO portal, or SMS. Each method provides account and contribution details.

Send an SMS to 7738299899 or use the UMANG app to view your PF balance, ensuring easy access to your interest and contribution details.