Good News For PF Account Holders, PF Will Earn 8.15 Percent Interest : This order comes after the approval of the Finance Ministry on the EPF interest rate approved by the EPFO Trustees in March this year. Now the regional offices of EPFO will start the process of depositing money in the customer's account through internet.
The central government has approved 8.15 percent interest on EPFO for FY 2023. Retirement fund body EPFO on March 28, 2023 marginally increased the interest rate on EPF deposits to 8.15% for the financial year 2022-23 for its over 6 crore subscribers. According to an order announced on Monday, the EPFO has asked the members to deposit interest on EPF at the rate of 8.15% for 2023.
Good News For PF Account Holders, PF Will Earn 8.15 Percent Interest
Organization Name : PF Account Interest Rate Latest News in Gujarati
Article sub-information: PF Account Interest Rate
Article Objective : To provide information about PF Account Interest Rate.
Regional offices will initiate the process of depositing money into the account
The order follows the Finance Ministry's consensus on the EPF interest rate approved by the EPFO trustees in March this year. Now the regional offices of EPFO will start the process of depositing money in the customer's account through internet. In March 2022, the Employees' Provident Fund Organization (EPFO) reduced the interest rate on EPF deposits for 2021-22 to a four-decade low of 8.10% from 8.5% in 2020-21.
The employer also contributes equally to the EPF account. On a monthly basis, an employee contributes 12% of his earnings to his EPF account. The full contribution of the employee is credited to the EPF account. In case of employer, only 3.67 percent is deposited in EPF account. The remaining 8.33 percent goes to the Employees Pension Scheme (EPS).
How much is contributed?
More than seven crore people will get benefit of interest. This interest will be paid on salary and employer's contribution. 12% of the salary is contributed to the PF account. And the same is contributed by the company or organization. If your salary is Rs 2,50,000, the total contribution to EPF per month by both company and employee will be around Rs 39,180. At the same time, your contribution to EPS will be Rs 20,820 per month.
EPF Interest Rate Last 10 Years
- 2022-2023 8.15 %
- 2021-2022 8.10 %
- 2020-2021 8.50 %
- 2019-2020 8.50 %
- 2018-2019 8.65 %
- 2017-2018 8.55 %
- 2016-2017 8.65 %
- 2015-2016 8.80 %
- 2014-2015 8.75 %
- 2013-2014 8.75 %
How to check balance in EPF on EPFO portal
Go to the personnel section of the EPFO website and click on 'Member Passbook'. You can view the PF passbook by entering your UAN and password. Details of employee and employer contributions as well as opening and closing balances can also be viewed. Any PF transfer amount, as well as the PF interest amount will also appear. EPF balance can also be viewed from passbook.
How to check balance on UMANG app
- Download and install the Umang app
- Register with your mobile number
- Select EPFO from the options
- Click on View Passbook
- After entering your UAN click on Get OTP
- Select Login
- Your passbook and EPF balance will appear on the screen
EPFO Fund online – Helpline
Name of the Organization : Employees’ Provident Fund Organisation, India Ministry of Labour & Employment, Government of India
Requirements : UAN Number + Aadhar Linked Mobile Number For OTP Validation.
Contacts : https://www.epfindia.gov.in/site_en/Contact_us.php
EPFO Fund online : Helpline
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