Provident Fund (PF) is a savings account that gradually grows into a substantial corpus, but most people fail to see how much interest is accruing in their PF account each year. The good news is that you can now easily check both your PF balance and the interest earned in just a minute from the comfort of your home. The latest news is that the government is considering increasing the PF interest rate in the new financial year, which could be a major relief for millions of employees.
Current Interest Rate on PF
The Employees’ Provident Fund Organization (EPFO) has set an interest rate of 8.25 percent for the 2024-25 financial year. This rate remained the same last year. This interest is added to the entire amount deposited in your PF account at the end of the financial year. The decision on next year’s interest rate is likely to be made at the EPFO meeting around February 2026.
Currently, the PF salary limit is ₹15,000. This means that anyone earning up to ₹15,000, including basic salary and DA, is required to join the PF scheme. The government is considering increasing this limit so that more employees can benefit from better pensions in the future.
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How is PF deducted from salary
PF deduction from salary is quite simple. 12 percent of an employee’s basic salary and DA goes into PF. The company also contributes 12 percent, but this contribution is divided into two parts: one part goes to the pension scheme, and the remaining part is added to the PF. This way, your fund keeps growing every month.
3 Easy Ways to Check PF Balance and Interest from Home
Checking your PF balance has become very easy now. There’s no need to go anywhere. You can check this with just a missed call, text message, or app:
Missed Call Facility
If your mobile number is linked to your UAN, give a missed call to 011-22901406. Within seconds, you will receive an SMS with your PF balance.
Via SMS
Type “EPFOHO UAN ENG” in your phone’s message box and send it to 7738299899. You can also select your preferred language.
Using the Umang App
Open the Umang app, select the EPFO section, and click ‘View Passbook’. After entering your UAN and OTP, your complete PF passbook will open, showing details of your annual interest and monthly contributions.
PF is one of your safest investments. Therefore, it is important to know how much money is accumulating in your PF account and how much interest you are earning.
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