Earlier, the Central government had approved an interest rate of 8.15 per cent for the Employees’ Provident Fund (EPF) scheme for 2022-23.
Provident Fund Latest Update: Here comes a piece of good news for the provident fund subscribers. The Employees’ Provident Fund Organisation (EPFO) on Friday said it has started the process of crediting 8.15 per cent interest to PF accounts for FY2022-23.
Taking to social media, the EPFO said, “The process is in the pipeline and may be shown there very shortly. Whenever the interest will be credited, it will be accumulated and paid in full. There would be no loss of interest. Please maintain patience.”
The EPFO gave this piece of information in a reply to an X user’s post asking “FY2022-23 interest still not credited. When expect the interest will be credited into account”.
While some users said they have already received their interest payouts in their accounts, but the EPFO said that it may take time for the amount to reflect in all accounts. In the meantime, Union Labour Minister Bhupender Yadav said that the interest has already been credited in over 24 crore accounts.
Earlier, the Central government had approved an interest rate of 8.15 per cent for the Employees’ Provident Fund (EPF) scheme for 2022-23. The Central government for the financial year 2023-24 also approved to credit 8.15 per cent interest to the EPF accounts.
It should be noted that the PF interest rate is decided every year by EPFO’s Central Board of Trustees (CBT) in consultation with the Ministry of Finance. The PF subscribers must know that after the interest is credited, it will be reflected in the PF account of the individual. The subscribers can check the provident fund account balance in multiple ways – via text message, missed call, UMANG app, and EPFO website.
Provident Fund: Here’s How to Check EPFO Balance Online
- First you need to log in to EPFO’s official portal at epfindia.gov.in.
- Then click on the homepage and look for and click on ‘Services’, then click on ‘For Employers’ link.
- Then in the next page, look for the ‘Services’ section, and click on the ‘Member Passbook’ link after which a login page will appear on the screen.
- Then log in to the account by entering your Universal Account Number (UAN), password and captcha code. Click on submit.
- Finally, check your account details and interest that has been credited.
Provident Fund: Here’s How to Check EPFO Balance On UMANG App
- First log in to Umang portal – https://web.umang.gov.in/landing/
- Then look for Employees’ Provident Fund Organisation (EPFO) and click on view passbook.
- To go ahead, enter the Universal Account Number (UAN) of the EPF account.
- Then you need to click to receive OTP and key in the OTP on the registered mobile number.
- Select the member ID and download the e-passbook.
- After this, the e-passbook details and EPF balance will be displayed on the screen.