EPFO Interest: Amidst the second wave of the Corona epidemic, 6 crore account holders of EPFO (Employees’ Provident Fund) are going to get good news in the next 4-5 days. According to the news received by Zee News from sources, a huge amount is going to come in the PF account of the subscribers by the end of July. Only 5 days are left for the month of July to end. Within these 5 days, the Employees’ Provident Fund Organization ie EPFO can transfer 8.5% interest to the subscribers’ account for the financial year 2020-21, the government has given its green signal.
8.5% interest will come within 5 days?
Quoting sources, it has been learned that after the approval of the Ministry of Labor, this 8.5% interest amount will come into the accounts of EPFO subscribers by the end of this month. The transfer process will be started soon after approval from the ministry. Prior to this, in the last financial year 2019-20 also, due to disturbances in KYC, many subscribers had to wait for a long time of 8 to 10 months to get interested. 6.44 crore people in the country come under PF.
PF interest rate at a low of 7 years
Let us tell you that the EPFO had decided to retain the interest rates for the financial year 2020-21 at 8.5% without any change, which is the lowest interest rate of the last 7 years. Prior to this, in the financial year 2013, the interest rates on EPF were 8.5%. In March last year, the EPFO had revised the interest. Earlier in the financial year 2019, 8.65 percent interest was available on EPF. EPFO had given 8.55 percent interest in FY2018, which was 8.8% in its previous financial year 2016. Prior to this, in the financial year 2014, it was 8.75 percent.
Check EPF Balance
8.5% interest money can be added to your account at any time. So keep checking your regular EPF balance. The way to check balance is very easy. You note down a number, this number is 7738299899. On this number you will have to send an SMS, its format will be EPFOHO UAN ENG. Through this message, information about EPF contributions will come in the English language on your registered mobile number. If you want this message in Hindi, then you have to send it by writing EPFOHO UAN HIN. This SMS service is also available in Punjabi, Marathi, Kannada, Telugu, Tamil, Malayalam, and Bengali languages.
Check balance through missed call
Also, note down another number – 011-22901406, on this, you will have to give a missed call from your registered mobile number. A message will be sent to you from EPFO, in which you will get your own PF account information. This service is absolutely free for the subscribers, for this, they do not have to pay any money.