The Employees Provident Fund Organization (EPFO) announced good news for all the subscribers in February 2024, stating that the interest rate for the financial year 2023-24 (FY24) has been made 8.25%. At present, people are very eagerly waiting for its interest to come. Now the question arises of when will this amount come to the people's EPFO account. Let's know about it.
EPFO acknowledged inquiries on social media about FY24 interest credit. He confirmed that the process is going on and the interest will be reflected in your account 'very soon'. Members have been assured that there will be no reduction in interest due to delay.
The return rate will be better than last year.
Let us tell you that by March 2024, interest for FY 2022-23 has already been credited to the accounts of 28.17 crore EPFO members. You can find out this money by checking your EPF passbook.
The EPF scheme is a mandatory savings and retirement scheme for salaried employees.
Both the employee (12%) and the employer or company (12% contribution, of which 8.33% goes to EPS) contribute to your EPF account.
The Central Board of Trustees (CBT) of EPFO has recommended an interest rate of 8.25% for FY24, up from 8.15% last year. This means that you will get a better return on your contribution.
How to check your EPF balance
If you want to check your EPF balance, there are four ways to do it. In this, you can use the Umang App, EPFO Members Portal, and other facilities.
UMANG App: Download the Umang app and register on it. Select EPFO and then select 'View Passbook'. After this, enter your UAN and OTP to view your balance.
EPFO Members Portal: Go to the Employees section on the EPFO website. After this click on 'Member Passbook'. Now use your UAN and password to access your PF details here.
Missed Call: Apart from these methods, you also have the option of missed calls. For this, you have to make a missed call from your UAN registered mobile number to 7738299899. Here you will get an SMS with the details of your new contribution and balance.
SMS: You can also check the balance through SMS. For this, you have to send an SMS to 7738299899 with the message 'UAN EPFOHO ENG' (or their code for information in another language). For this method to work, make sure that your UAN is linked to your bank account, Aadhaar, and PAN.
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