EPFO Update – The number of members joining the Employees’ Provident Fund Organisation (EPFO) is increasing daily. Most private companies deduct PF contributions from their employees’ salaries. A portion comes from the employee’s salary, and another portion is contributed by the company to the EPF account.
The central government also announces the interest rate for PF accounts every year. Now, the Modi government is once again considering opening its coffers for PF account holders. The central government may soon announce the interest rate for PF accounts.
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PF account holders may receive up to 9 per cent interest for the financial years 2025 and 2026. This announcement could be made in February. However, nothing has been officially confirmed yet.
How much interest can be expected?
The government may offer up to 9 per cent interest for PF account holders for the financial years 2025 and 2026. If the government announces this interest rate, it will be 0.7 per cent higher than the previous year. An interest rate of 8 per cent was announced for the financial year 2024-2025. This time, approximately 7.8 crore employees will benefit from the interest.
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A substantial amount in the account
The central government may transfer a significant amount to PF accounts based on per centcent interest rate. If an employee has ₹6 lakh deposited in their PF account, then ₹54,000 will be transferred as interest atper centrcent rate. PF account holders can easily check whether the interest amount has been credited. The process for checking the amount is also simple.
Check balance without in. ternet
Checking your PF balance doesn’t require an internet connection. PF account holders need to send an SMS from their registered mobile number to 7738299899.
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The message should be in the format EPFOHO UAN <first three letters of your language> (for example, EPFOHO UAN HIN for Hindi). You will then immediately receive your PF balance and details of your last contribution via SMS. There is also an easy process to check your PF balance via a missed call.