Big PF update! EPFO to decide interest rate for 2021-22 in March — 4 ways to find out your air conditioning balance | Personal finance news
New Delhi: EPFO’s top decision-making body, the central board, will take a call on the interest rate on employee provident fund deposits for 2021-22 at its meeting next month.
On the issue related to maintaining the 8.5% interest rate for 2021-22 as decided for 2020-21, Union Labor Minister and CBT Chief Bhupender Yadav told PTI that the decision would be made based on revenue projections for the year.
The 8.5% interest rate on ETH deposits for 2020-21 was decided by the Central Board of Directors (CBT) in March 2021. It was ratified by the Ministry of Finance in October 2021 and subsequently EPFO instructed field offices to credit interest income at 8.5% for 2020-2021 to subscribers’ accounts. Once the CBT has decided on an EPF deposit interest rate for a budget year, it is sent to the Ministry of Finance for approval.
In March 2020, the EPFO had lowered the interest rate on deposits to the provident fund to a seven-year low of 8.5% for 2019-20, from 8.65% forecast for 2018-19. The forecast EPF interest rate for 2019-20 was the lowest since 2012-13, when it was reduced to 8.5%. EPFO had provided an interest rate of 8.65% to its subscribers in 2016-2017 and 8.55% in 2017-2018. The interest rate was slightly above 8.8% in 2015-2016. It granted an interest rate of 8.75% in 2013-14 and 2014-15, higher than 8.5% for 2012-13. The interest rate was 8.25% on the provident fund in 2011-2012.
Know how to consult the balance of the EPF account ONLINE
Login to epfindia.gov.in
Enter your UAN number, password and captcha code
Click on the e-Passbook
Once you have filed all the details, you will come to a new page
Now open Member ID
You can now see the total ETH balance in your account
How to Check EPF Balance via UMANG App
Open the UMANG app
Click on Employee-Centric Services
Click the View Booklet option
Enter your UAN number and password
You will get OTP on your registered mobile number
You can now view your EPF balance
How to Check EPF Balance via SMS
Apart from the mobile number, registered members on the UAN portal can get their PF details by sending an SMS from their registered mobile numbers. For this you need to text ‘EPFOHO UAN’ to 7738299899.
How to Check EPF Balance via MISSED Call
EPFO subscribers, registered on the UAN portal, can get their PF details available from the Employees Provident Fund Organization by giving a missed call to 011-22901406 from their mobile number registered with the UAN.
With PTI inputs