How to check EPFO Passbook: Money has started coming in the account of PF account holders. Interest is calculated on monthly basis in EPFO EPF account, they are credited at the end of a financial year.
EPFO Passbook Check: The Employees’ Provident Fund Organization has started the process of depositing interest in Employees’ Provident Fund (EPF) accounts. EPFO has assured the beneficiaries that the interest will be deposited in full and there will be no loss. Money can come in the account of PF account holders soon.
Employees Provident Fund Organization customers interest is credited to your PF account or not – through a passbook where your provident fund balance details are displayed. The passbook can be availed online from the EPFO website.
Last month on October 31, EPFO had tweeted that the process of depositing interest is on and it will be reflected in your account soon. Whenever interest is received, it will be paid in full. There will be no loss of interest.
Employees Provident Fund Organization
The Employees’ Provident Fund Organization’s clarification comes after the Finance Ministry in October answered questions about non-crediting of interest in the PF accounts of employees. According to Finmin, there has been no loss of interest to any EPFO subscriber till October 5. The interest is being credited to the account of all EPF subscribers. However, this is not reflected in the statements in view of a software upgrade being implemented by the EPFO, so as to be attributed to the change in tax incidence.
Check epfo passbook online
- To view his passbook in Employees’ Provident Fund Organization, the member has to visit the official website of EPFO, epfindia.gov.in.
- Then, members click on the ‘Services’ section mentioned at the top of the dashboard. Under this section, click on the option ‘For Employees’.
- A new page will be opened for the employees. Click on the option ‘Member Passbook’ mentioned under ‘Services’.
- Once ‘Member Passbook’ is selected, he/she will be directed to a login page.
- Mention your UAN details along with password and answer the captcha code. After that click on ‘Login’.
- You will be directed to the main EPF account, where the interest earned is highlighted along with the contribution details of both employees and employers. You can also print your passbook by clicking on ‘Download Passbook’.
Employees Provident Fund Organization
Generally, the CBT decides the interest rate for EPF accounts by the EPFO in every financial year. Later, the Finance Ministry has reviewed the rate. Once Finmin gives the green signal, the rate is processed in the PF accounts for that particular financial year by the CBT and Employees’ Provident Fund Organization. CBT is under the Ministry of Labor and Employment.
EPFO latest update
In March this year, the CBT announced an interest rate of 8.10% for EPFO EPF accounts – the lowest since 1977-78. However, the rate of 8.1% is still beating inflation. In the Employees’ Provident Fund Organization, this rate will be deposited on the deposit of EPF in the accounts of the members for the financial year 2021-22.
Employees Provident Fund Organization
Though interest is calculated on monthly basis in EPFO EPF account, however, they are credited at the end of a financial year. The transferred interest is added to the next month’s balance and then compounded to calculate the interest on that month’s balance. All the customers of Employees’ Provident Fund Organization are going to get good news soon.
