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  4. Good News! PF interest to be credited before festive season. Check details here

Good News! PF interest to be credited before festive season. Check details here

EPFO Notification: There is good news ahead of the festive season, 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 Dussehra and Diwali festivals.

India TV Business Desk India TV Business Desk
New Delhi Published on: September 23, 2019 15:13 IST
PF interest to be credited before festive season
Image Source : OVER 6 CR EPFO MEMBERS TO

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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