The Employees’ Provident Fund Organization (EPFO) has announced a significant increase in the interest rate for Employees Provident Fund (EPF) deposits for the financial year 2023-24.
With a proposed interest rate of 8.25%, this marks the highest rate in the past three years, providing a welcome boost to millions of employees across the country.
Previously, the interest rates stood at 8.15% and 8.1% for the years preceding.
Pre-Lok Sabha Election Move: A Timely Decision
This decision, made during the meeting of the Central Board of Trustees (CBT), comes ahead of the upcoming Lok Sabha elections scheduled for April-May.
The timing underscores the significance of this move as it awaits approval from the Finance Ministry. Once approved, the increased interest will commence transferring to the subscribers’ accounts.
Four Ways to Check Your EPF Balance
Here’s how you can easily check your EPF account balance:
1. SMS Method
Send EPFO UAN LAN (Language) to 7738299899 from your registered mobile number. Replace LAN with your preferred language code: ENG for English, HIN for Hindi, and TAM for Tamil.
2. Missed Call Service
Simply give a missed call to 011-22901406 from your registered mobile number to receive details about your EPF balance.
3. Website Portal
Visit the EPF Passbook portal and log in using your UAN and password. Click on Download/View Passbook to access your balance information.
4. Umang App
Utilize the Umang App on your smartphone to check your EPF balance conveniently. Open the app, navigate to EPFO, select Employee Centric Services, and click on View Passbook.
Enter your UAN and password, verify with the OTP sent to your registered mobile number, and access your EPF balance hassle-free.
Stay informed and stay empowered with these simple methods to keep track of your EPF balance.