PF account : Rejoice, PF account holders! The wait for the much-anticipated interest credit for the financial year 2022-2023 is almost over. The Central Government has confirmed keeping the interest rate at 8.15%, and EPFO has assured that the interest amount will soon be credited to your accounts. Here’s everything you need to know about this positive update:
Interest Rate Retained at 8.15%:
Earlier this year, the government brought relief to over 6 crore EPFO subscribers by announcing an 8.15% interest rate on EPF deposits. This decision reversed the downward trend of interest rates witnessed in previous years.
Interest Credit in the Pipeline:
While the exact date for crediting the interest amount hasn’t been announced, EPFO has clarified that the process is underway. They’ve assured users that the interest will be credited in full and no amount will be lost due to delays.
EPFO’s Official Response:
In response to a depositor’s query on Twitter, EPFO stated that the interest crediting process is ongoing. They’ve emphasized that the interest will be reflected in your account, and the full amount will be credited.
Checking Your EPF Balance:
Even as you await the interest credit, you can easily check your current EPF balance through various methods:
- EPFO Website: Visit the official EPFO website (https://www.epfindia.gov.in/) and log in to your account using your UAN and password.
- SMS Service: Send an SMS with your UAN number to EPFO’s dedicated number 7738299899. You’ll receive your EPF balance via SMS.
- Missed Call Service: Give a missed call to 09268081422 from your registered mobile number. You’ll receive your EPF balance details through an SMS.
- Umang App: Download the Umang app and register yourself using your Aadhaar card. You can then access your EPF balance and other services within the app.
Previous Interest Rate Reduction:
It’s worth noting that in March 2022, the EPF interest rate for 2021-2022 was reduced to 8.10%, the lowest in 40 years. This decision had caused concern among subscribers. However, the recent announcement of retaining the 8.15% rate for 2022-2023 offers some welcome relief.