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Now along with checking the balance, you can also get information about the interest received on the money deposited in PF, earlier the interest information was not available.
If you want to check the balance of EPFO account, now along with checking the balance, you can also get information about the interest received on the money deposited in PF. That is, now you can also see whether the interest has been deposited in your account or not. If you want to get online passbook from EPFO website then you can download PDF file of his passbook. For the last several days, people are not able to see the passbook on the EPFO website.
EPFO has made many changes in its website for the convenience of the employees, so that the employees will not face any problem in checking the PF balance. Before this, people can see only the total amount in the passbook. But now you will also be able to see how much interest you have received on the money deposited in your PF account. Apart from this, you can also see how much work you have done in which company.
Now EPFO member can access his passbook online through official website or mobile app. For this, you have to login through Universal Account Number (UAN) and password. Updating passbook with interest is an entry process for EPFO member. The date on which the interest is recorded in the member’s passbook has no real financial bearing, as the interest earned on his monthly running balance for the year is always added to the closing balance of that year and carried over to the next year. becomes the opening balance for
No harm to anyone
There is no financial loss to the member in case of delay in updating the interest in his passbook. Further, if a member withdraws his EPF balance before the interest is updated in his passbook, in that case also the interest payable at the time of claim settlement is calculated and paid by the system from the date it becomes due . Hence in this case also no member suffers any financial loss.
Explain that EPFO has provided online facility to customers to submit joint option form (with employer) to opt for higher pension by May 3, 2023. Later the deadline was extended till June 26, 2023.
EPF account getting 8.15% interest
The labor ministry clarified earlier this month that an additional contribution of 1.16 per cent of basic pay for subscribers opting for higher pension would be managed by employer’s contribution to social security schemes run by EPFO.
Explain that India’s state-run Retirement Fund Management has increased the interest rate on Employees’ Future Fund to 8.15% for FY23. This will benefit more than six crore employees of the Employees’ Provident Fund Organization (EPFO).