EPFO Update – The fortunes of all PF employees are about to shine, as the central government may open its coffers. Before presenting the general budget, the government is considering finalising the interest rates for the financial years 2025 and 2026. The big question remains: how much interest will be given this time?
The government may increase the interest rate by up to 0.75 per cent. This means there is a possibility of receiving 9 per cent interest. This will ensure a substantial amount of money in the accounts of PF employees. However, nothing has been officially said about the interest rate yet. Media reports are making such claims.
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How much interest is possible?
The Modi government may announce a percentage interest rate for the financial years 2025 and 2026. This rate could be 0 per cent higher than the previous financial year. Previously, 8per centcent interest was given. The decision on the interest rate may be taken at the meeting of the EPFO’s Central Board of Trustees.
The central government is going to present its general budget on February 1st, and before that, it is considering giving a gift to 8 crore PF employees. A substantial amount of money is then certain to be credited to their accounts.
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9 per cent interest on the fund
If the government approves a 9 per cent interest rate, then a large amount will be received on the fund. If someone has Rs. 6 lakh deposited in their PF account, then an amount of Rs. 54,000 can be provided as interest at 9 per cent.
If Rs. 4 lakh is in the fund, then Rs. 36,000 will be given as interest. This amount will act like a booster dose during inflation. Approximately 8 crore EPFO members will benefit from this.
Easily check your money.
You can easily check your money in your EPF account. EPFO has created various ways to check PF money. You can check your PF money without going to the office.
Employees will first have to give a missed call from their UAN-registered mobile number to EPFO’s number 9966044425. After this, you will be provided with your balance information via SMS, and there will be no problems.