EPFO Update: If you are currently employed at a company and your Provident Fund (PF) contributions are being deducted, the Central Government is soon set to open a veritable treasure trove. This bounty is such that every PF subscriber stands to benefit from it. You might be wondering: what exactly is this special gift?
In fact, the interest rate announced by the Central Government for the financial years 2025 and 2026 is expected to be credited to accounts by the last week of June. The amount transferred as interest will be proportionate to the PF balance currently held in your account. This benefit is set to reach over 70 million employees.
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How much interest has the Government announced?
The Central Government has already announced an interest rate of 8.25 per cent for the financial years 2025 and 2026. Following this announcement, a question lingers in the minds of all PF subscribers: when exactly will they receive their interest earnings? You will be pleased to know that the EPFO—the Central Government body responsible for provident funds—is likely to credit the interest amount to accounts by the final week of June. This move will benefit a vast number of employees.
How much interest can you expect to receive?
Employees will receive interest at a rate of 8.25 per cent on the amount deposited in their PF accounts. For instance, if an employee has a balance of ₹400,000 in their PF account, they would receive a benefit of approximately ₹34,000 based on the 8.2 per cent interest rate.
Furthermore, if a PF subscriber has a balance of up to ₹500,000 in their account, they could receive slightly over ₹50,000 in interest earnings. You can easily verify the exact interest amount credited to your PF account. The process for checking your balance is both simple and can be done online.
How to check your balance using the UMANG App
You can check your PF account balance using the UMANG mobile application.
To do this, you must first download the app and complete the registration process.
Next, search for ‘EPFO’ and click on ‘View Passbook’ under the ‘Employee Centric Services’ section.
You will then need to log in using your Universal Account Number (UAN) and the One-Time Password (OTP) sent to your registered mobile number.
Once logged in, you can view your company’s passbook to check your total PF balance as well as your pension amount.
