EPFO Update: PF employees are about to hit the jackpot, as the central government may soon make a big announcement. The central government is expected to finalise the interest rate for the financial years 2025 and 2026. This time, PF employees are expected to receive an interest rate of up to 8.75 per cent. This amount will be higher than lastyear’sr.
This decision is likely to be taken soon at a meeting of the EPFO’s Central Board of Trustees. According to sources, the decision on the interest rate may be taken after Holi. The Minister of Labour and Employment is also expected to attend this meeting. There has been no official update yet regarding the date of the meeting.
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How much interest was paid last year?
The central government provided an interest rate of 8.25 per cent for the financial years 2024 and 2025. This was 0.1 per cent more than the rate for 2023 and 2024. If an interest rate of 8per centcent is given for the financial year 2025 and 2026, it will be per cent higher than last year.
The interest amount is expected to be transferred by June. Now, everyone’s eyes are on the meeting of the EPFO’s Central Board of Trustees. If the interest is paid atper centercent, account holders will be very fortunate. We are going to explain the complete calculation below to clear up any confusion.
How much interest will be credited to your account?
If an employee has Rs. 6 lakh in their PF account, they can receive approximately Rs. 54,000 as interest. Similarly, if an employee has Rs. 4 lakh in their PF account, they can receive approximately Rs. 43,000 as interest at an annual rate. You can easily check how much interest money has been credited to your account. EPFO has provided several ways to check this.
How to check your PF balance
For this, PF employees need to visit the EPFO Member Portal on the EPFO website. Then you will have to click on the ‘e-Passbook’ option, and you can log in by entering your UAN, password, and captcha.
You can then view your balance in your passbook.
Check your balance using the UMANG app as well.
For this, you will first need to download the UMANG app from the Google Play Store or Windows Store.
Then, open the app, select the EPFO service, and log in to check your balance.
