EPFO: Good news for EPFO members. The Employees’ Provident Fund Organisation (EPFO) has initiated the process of depositing an interest rate of 8.25% for the financial year 2025-26 into Provident Fund (PF) accounts. The interest money will be added to members’ accounts gradually. While most members have already received their interest, many are still waiting for it. Labour and Employment Minister Mansukh Mandaviya stated that around Rs 1.44 lakh crore in interest will be credited to the accounts of approximately 34 crore EPFO members by July 15. If you haven’t seen the interest in your account yet, there’s no need to be alarmed. Here is how you can verify your balance:
1. Look for the interest entry in your passbook: EPFO mentions that members whose accounts have been credited with interest will have a distinct entry for the interest in their passbooks. If you don’t see the update immediately, check your passbook again in a few days. The interest will be automatically added to eligible members’ accounts.
2. How to confirm if interest has been deposited into your PF account:
– Go to the EPFO Member Passbook portal.
– Log in with your UAN, password, and captcha.
– Select your PF account and view the passbook. If the interest has been credited, a separate entry will be visible. You can also access your PF details through the Umang app.
3. Calculation of interest: EPFO has maintained the interest rate at 8.25% this year. However, the interest amount can vary for each member. Interest is based on the monthly balance in the account, including contributions from both the employee and employer. For instance, if a member has a Rs 5 lakh balance throughout the year, they could earn around Rs 41,250 in interest. But if money is withdrawn mid-year, the final interest will be lower.
4. If interest is not showing: If the interest has not appeared in your passbook by July 15th, don’t fret. EPFO doesn’t credit interest to all accounts simultaneously, so it may take a few days for it to reflect in some accounts. In such cases, there is no need to lodge a complaint immediately. Check your passbook again after a few days.
5. Digital system enhancements: The interest deposit process is now being carried out through EPFO’s new Centralized IT Enabled Services (CITES) system. This system consolidates member data nationwide into a single database, unlike the previous method where different local offices had separate databases. This new system aims to simplify and expedite tasks such as PF claims, PF account transfers, and interest payments.