EPFO may credit full 8.5% interest for FY20: How to check balance

Source: Reuters

The retirement fund body Employees' Provident Fund Organisation (EPFO) may credit 8.5 percent interest for 2019-2020 in the EPF accounts of around 6 crore subscribers.

The finance ministry likely has given nod to the EPFO for interest rate recommendation of 8.5 percent for FY20 and according to the report in Indian express, it is expected to credit it to subscribers in the next few days.

The report also says EPFO is looking at crediting the interest rate in one go of 8.5 percent instead of a split of 8.15 percent and 0.35 percent proposed earlier.

Due to the coronavirus pandemic, EPFO in September had decided to split the 8.5 percent interest rate for EPF account holders into two instalments of 8.15 percent and 0.35 percent.

The EPFO had approved 8.5 percent interest rate on EPF for 2019-20 in March 2020 during the COVID-19 nationwide lockdown. The EPFO had decided to honour its commitment to provide 8.5 percent rate of interest for the last fiscal in September. However, in view of the pandemic it was decided to split the rate of interest into two instalments of 8.15 percent and 0.35 percent.

Here’s how to check your EPF balance

PF balance can be checked with the help of UMANG app by the employees.

-Visit UMANG app

-Click on EPFO.

-Click on Employee Centric Services

-Click on the View Passbook option

-Feed in UAN number and password

-Get OTP on registered mobile number

-Now check your EPF balance

PF balance can be checked with the help of EPFO portal by the employees

-Visit epfindia.gov.in

-Enter your UAN number, password and captcha code

-Click on the e-Passbook

-Once you file all the details, you will land up on a new page

-Now open member id

-Now you can see the total EPF balance in your account

PF balance can be checked with the help of SMS by the employees

If your UAN is registered with the EPFO, you can get the details of your latest contribution and PF balance by sending an SMS to 7738299899. You need to send this message: EPFOHO UAN ENG. 'ENG' is the first three characters of the preferred language.

PF balance can be checked with the help of Missed call by the employees