EPFO Update – PF employees may once again be in luck. Discussions have begun regarding the interest rates for PF employees in the financial years 2025 and 2026. Speculation is rife that the government may increase the interest rate this time. The central government may provide up to 9% interest to EPF members.
This would amount to a 0.75% increase. In the financial years 2024 and 2025, a total of 8.25% interest was paid to EPF members. Approximately 70 million PF employees will benefit from this interest rate. This decision may be made at a meeting of the Board of Trustees. However, no official announcement has been made regarding the interest amount yet.
How much will EPF members receive?
If the central government announces 9% interest for EPF members for the financial years 2025 and 2026, a substantial amount will be transferred to their accounts. If an employee has ₹5 lakh deposited in their PF account, they can receive a substantial amount at 9% interest. Based on calculations, ₹45,000 will be transferred to their EPF account at 9% interest.
An EPF member with ₹4 lakh in their account will receive ₹36,000 as interest. A deposit of ₹3 lakh will yield ₹27,000. The government is expected to approve this proposal in February. Approximately 75 million employees will benefit from this.
How can you check your balance?
Employees registered with the EPFO can check their balance through their passbook. This process is also online.
Employees will need to visit passbook.epfindia.gov.in.
After this, they will need to log in by entering their UAN number, password, and captcha code.
Then, under the View tab, click on the View Passbook option.
You will then receive a complete breakdown of your contributions and balance.
Interest is paid annually.
The central government has been providing interest to PF employees every financial year. For the current year, the government provided 8.25% interest. Now, everyone is eagerly awaiting the next year. There has been constant speculation about a 9% interest rate.