PF interest to be credited before festive season
EPFO Notification | There is good news for all the employees who are linked with the Employees’ Provident Fund Organisation (EPFO). The EPFO employees are entitled to receive the interest amount ahead of the festive season, i.e. Dussehra and Diwali. The central government has approved 8.65 per cent interest on employees provident fund (EPF) for the financial year 2018-19.
Last week, Labour Minister Santosh Gangwar had made an announcement, saying EPF interest will be credited at the rate of 8.65 per cent in the EPF accounts of the employees. "..Ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19,” PTI had quoted Gangwar as saying.
However, the 8.65 per cent interest rate on PF will be credited or transferred only after the approval by the Finance Ministry, to the EPF respective accounts. In February this year, the Central Board of Trustees had approved the rate of 8.65 per cent for EPF accounts for FY 2018-19.
To verify this information, a person can check his/her PF balance online, using the unique Universal Account Number (UAN) issued by the EPFO. For this, they have to visit the EPFO website -- epfindia.gov.in. Here we give you the steps on how to check your EPF balance online.
How to check Employees' Provident Fund or EPF balance online
Step 1: Visit the official website -- epfindia.gov.in
Step 2: Click on the 'For Employers' section in the drop-down menu of 'Our Services' option on the homepage
Step 3: Click on ‘Member Passbook’ under the ‘Services’ option
Step 4: Login with the EPFO username and password
Step 5: Click on the Member ID following which the EPF passbook will be displayed on the screen
Step 6: Download and print the EPF passbook
If your EPF account exceeds the mandatory lock-in period of 5 years, then you can even apply for the partial withdrawals.
It is to be noted that a person is allowed to withdraw a definitive amount in case of unemployment, retirement, marriage/education of children, illness, loan repayment, purchase of land/house, renovation of house etc.
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