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8.5% interest rate to be credited in account by July end, here are 4 ways to check PF balance from home

8.5% interest rate to be credited in account by July end, here are 4 ways to check PF balance from home
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EPFO Big decision on March 4! Likely rate reduction in FY21 interest to cause major upset for PF subscribers

Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited to several subscribers.
New Delhi: The 228th meeting of the EPFO central board of trustees (CBT) to be held on March 4 may have some bad news in store for PF subscribers. As per a report in a Business daily, Employees’ Provident Fund Organisation (EPFO) subscribers are likely to get lesser interest rates for their PF in FY 2020-21.
The Economic Times, quoting official sources said that the move may be necissiated following huge withdrawals and fewer contributions in the aftermath of the COVID-19 pandemic. EPFO has written a letter to the members of CBT apprising them about March 4 meeting. ....

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EPFO update! 8.5% interest benefits not credited into your account? THIS could be the reason

Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited to several subscribers.
New Delhi: About 4 million EPF subscribers are yet to receive the 8.5 percent interest on their PF account owing to mismatch of employee details in their KYC. The mismatch, reportedly has happened at the employers end.
A report published in the Mint said that some 8 to 10 percent of EPF subscribers have not recieved their interest payout for 2019-20 FY due to the said KYC Mismatch.
On December 31, 2020, Modi government gave a big New Year gift to around six crore EPF subscribers who were eagerly waiting for the final nod from government on crediting of interest for 2019-20 in their employees provident fund (EPF) accounts. ....

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Big EPFO update! Electronic facility for Principal Employers launched: Here are the benefits

Highlights
4 sets of functionality.
Facility on EPFO s unified portal.
New Delhi: Employees Provident Fund Organisation (EPFO) has launched electronic facility for PRINCIPAL EMPLOYERS to view EPF compliances of their contractors.
The EPFO electronic facility for PRINCIPAL EMPLOYERS allows them 4 sets of functionality as mentioned below.
- Now, EPFO registered employer engaging employees through contractor(s) can add the details of contractor(s) and contract employees at EPFO s unified portal
- PRINCIPAL EMPLOYERS (PE) not registered with EPFO can register on unified portal to recieve login/password to add details of their contractor(s) and contract employees
- On adding contractor s details, PE can view through their login the employee wise remittance made by contractors through ECR. ....

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Great News: EPFO start crediting 8.5 per cent interest, find how to check PF balance here

Highlights
Apart from the mobile number, the members registered on the UAN portal may get their PF details by sending an SMS from their registered mobile numbers.
EPFO subscribers, registered on the UAN portal, may get their PF details available with the Employees’ Provident Fund Organisation by giving a missed call at 011-22901406 from their mobile number registered with UAN.
According to the EPF website - epfindia.gov.in, in an EPF account, an employee contributes 12 per cent of his or her salary towards the account, and an equal amount is contributed by the employer.
There was good news in the New Year for the salaried class Indian middle-class as retirement fund body Employees Provident Fund Organisation (EPFO) announced that it has started crediting 8.5 per cent rate of interest on employees provident fund (EPF) for 2019-20 for more than six crore members. Now account holders can see their updated EPF accounts with credit of 8.5 per cent rate of interest ....

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