If you are a PF account holder then this news may be special for you. Let us tell you that if money is deposited in your account, then there is very good news for you. Let us tell you that important news has come out on your interest money.
If you are worried about when the interest money will be deposited in your account for the last business year. In such a situation, you have nothing to worry about. Because information on this has been given by EPF.
Know how much money will come into your account
EPFO has said that whenever the interest money is deposited, the entire amount will be deposited in the account and full payment will be made. There will be no loss of interest in this.
Know how much interest you will get
Whereas in February, EPFO had informed about the interest rate for PF of employees for the financial year 2023 to 2024. The retirement fund body has increased the interest rate by 10 bps to 8.25 percent, which is more than 8.15 percent in the last financial year. This is the highest EPF interest rate in the last three years.
How to know whether interest has come or not
Employees covered under EPFO have been waiting for interest in their accounts for a long time. As soon as the interest is deposited, users can check their balance online through its website. Apart from this, EPFO can check your PF balance through missed call and message.
Know what is the rule of PF
To check EPF balance, subscribers must have their UAN active. In such a situation, you should know that the employee deposits 12 percent of the monthly salary in the EPF account and this part is deposited by the employing organization. The entire money of the employee is deposited in the PF account. But out of 12 percent, 8.33 percent is deposited in EPS.
Some important things for PF account holders:
Keep your UAN active.
Keep checking your PF account information from time to time.
If you have changed jobs, get your PF transferred from your old employer.
After retirement, you can withdraw money from your PF account.
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Note: This information is for general information only. Please consult a financial advisor before taking any financial decisions.