EPFO: Four ways to check EPF balances, including one without UAN number
Business | March 03, 2023 11:50 ISTYou can now check your EPF balance using the EPFO app/Umang app, the EPFO Portal, SMS, and missed call facilities.
You can now check your EPF balance using the EPFO app/Umang app, the EPFO Portal, SMS, and missed call facilities.
At present, both employees and employers contribute 12 per cent of the employee's basic salary, dearness allowance and retaining allowance, if any, to the employee provident fund or EPF.
EPFO publishes guidelines for additional pensions under the EPS system. Applications for additional pension benefits may now be submitted till March 3, 2023.
The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said.
Employees Provident Fund Organisation news: Around 2,861 new establishments have started complying under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 ensuring social security cover to their employees.
An employee of a private company may avail pension after retirement if he works for at least 10 years in the organization.
The EPFO is a social security organisation responsible for providing a number of benefits to the members covered under the statute of EPF & MP Act, 1952.
EPF Interest Rate: It was in 2015 when the EPFO was first allowed to start investing in equities, but with a limit.
EPF Interest Rate: Contributions towards EPF accounts are done by the employee and the employer as well. The employer deposits the amount into the EPF account of employees directly on a monthly basis.
Earlier in March this year, the Employees' Provident Fund Organisation (EPFO) had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21.
The Employees Provident Fund Organisation (EPFO) on Saturday decided to lower the interest on provident fund deposits for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent provided in 2020-21.
Interest rate on employees' provident fund deposits on Saturday was proposed to be cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year.
The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees has decided to provide 8.1 per cent rate of interest on Employees Provident Fund (EPF) for 2021-22 in its meeting held on Saturday, sources said.
Asked whether EPFO would maintain the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Yadav, who also heads the CBT, said the decision would be taken on the basis of income projection for the financial year.
Of the total 14.81 lakh net subscribers, around 9.19 lakh new members have come under the social security ambit of EPFO for the first time.
PF Income Tax Section, PF Interest Taxable: PF accounts will be split into two separate accounts. Tax will be collected from employees' contributions exceeding Rs 2.5 lakh per year in the taxable account.
Amid reports of a "massive outage" in the IT system at UIDAI over the past week, the government on Saturday clarified that all the services were "stable" and "functioning fine".
The Employees’ Provident Fund Organization (EPFO) has made it mandatory for its subscribers to link Aadhaar Card with PF UAN (universal account number) to continue receiving funds in their PF accounts from the employers and other benefits.
The EPFO had directed that PF returns shall be allowed to be filed only for those members whose Aadhaar numbers are seeded and verified with the UAN, with effect from June 1, 2021.
Members, who have already availed of the first COVID-19 advance, can also opt for a second advance now. The provision and process for withdrawal of the second COVID-19 advance remain the same as in the case of the first advance.
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