EPFO has announced to keep the interest rate at 8.5 percent for the financial year 2020-21. This is the lowest interest rate in the last seven years.
Money can come in the account of 6 crore account holders.
EPFO Interest rates: The Employee Provident Fund Organization (EPFO) can deposit interest money in the accounts of its 60 million subscribers today. EPFO has announced to keep the interest rate at 8.5 percent for the financial year 2020-21. This is the lowest interest rate in the last seven years. In the financial year 2018-19, the interest rate was 8.65 percent. However, in the financial year 2017-18, it was only 8.55 percent. For the financial year 2019-20, it is 8.5 percent.
EPFO subscriber can also check the balance of his EPF account by sending SMS. For this, a message has to be sent to the number 7738299899. For this, write “EPFOHO UAN ENG” and send it to the given mobile number. On receipt of the SMS, EPFO in return will send you the PF account balance details.
Check PF Balance by Missed Call
EPFO has also provided missed call facility to check balance. In such a situation, you can check the balance by giving a missed call on the number 011-22901406. However, for this, the number of the EPFO subscriber should be registered with the PF account. Apart from this, the EPFO member should be linked in UAN, KYC details.
Must link pf with aadhaar otherwise there will be loss
Linking of Aadhaar number with Employees’ Provident Fund (EPF) has been made mandatory. Employees’ Provident Fund Organization (EPFO) has instructed employers that ECR (Electronic Challan cum Return) is allowed only for those EPFO members whose account is linked with Aadhaar. If the Aadhar number is not linked with someone’s EPF account, then the employer’s contribution will not be credited in such EPF account. EPFO also clarified that employer’s EPF contribution will not be credited to those EPF accounts whose UAN is not verified with Aadhaar number. So if you have not done this work yet, then complete it immediately.
how to link aadhar with epf
1>> To link Aadhar number with EPF, you have to login to EPFO portal epfindia.gov.in.
2>>Click on the ‘Online Services’ option followed by ‘e-KYC Portal’ and ‘Link UAN Aadhaar’.
3>>Enter your UAN number and registered mobile number.
4>> OTP will come on the registered mobile number.
5>>After this enter OTP and your 12 digit Aadhaar number.
6>> After filling, click on the ‘Submit’ button.
7>> Click on ‘OTP Verify’ option.
8>>After this generate OTP on your registered mobile number of mail linked with your aadhar number to verify your aadhar details
9>>EPFO will contact your employers for verification of your Aadhaar-EPF linking. Once the recruiter verifies your 10>> Aadhaar linking with the EPF account, your EPF account will be linked with your Aadhaar number.
Also read, SBI’s big announcement regarding home loan, processing fee waived till August 31
Also read, If you have money then save it! Banks are going to auction houses, cars, jewelery on a large scale, you will get a chance to buy them at cheap prices