Good news came on the morning of March 28, EPFO increased interest on PF, and now more money will come into the account
EPF Interest Rate: There is good news for those working in the private sector. On the morning of March 28, the EPFO decided that now more interest (EPF Interest hiked) will be given to the provident fund. EPFO’s board CBT has increased the interest rate from 8.10% to 8.15%. Employees’ Provident Fund Organization (EPFO) has fixed the interest rates at 8.15% for the financial year 2022-23. This means that now you will get more return on your money. However, the interest rate is still lower as compared to the financial year 2018-19. In that financial year, EPF subscribers used to get interested at the rate of 8.55% on the PF accounts.
Last year the interest rate was the lowest (EPF Interest Rate)
For the last financial year, the government had decided to give the lowest interest in 40 years. 8.1% interest was fixed for 2021-22. Earlier it was getting 8.5%. In the year 1977-78, the interest rate was 8%. Since then it has always remained above 8.25%. 8.65% interest was received in the financial year 2018-19, 8.55% in 2017-18, 8.65% in 2016-17, and 8.8% in the financial year 2015-16.
How much has been the interest rate on PF in 22 years (PF Interest Rate History)
Where does EPFO invest money?
Employees’ Provident Fund Organization (EPFO) invests your money deposited in provident fund accounts in many places. A part of the earnings from this investment is given to you in the form of interest. EPFO invests 85% of the total deposits in debt options. These include government securities and bonds. A total investment of Rs 36,000 crore is made in this. The remaining 15% is invested in ETFs (Nifty & Sensex). PF interest is decided on the basis of earnings from debt and equity.
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Check the PF account balance
You can check the passbook of your PF account to see whether your interest money has come or not. You can either visit the official website of EPFO for this. Or you can also send the message ‘EPFOHO UAN ENG’ to the number 7738299899. 9966044425 is also a number on which the PF balance can be checked by sending a missed call. Apart from this, the PF account can also be accessed through the UMANG app.
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Check PF Balance Online (How to check EPF Balance Online)
step 1-
Go to the official website of EPFO at epfindia.gov.in.
Step 2-
Click on the ‘Our Services tab. After this select the option of ‘For Employees’.
Step 3-
When the new page opens, you have to click on ‘Member Passbook’. Here you have to enter your UAN (Universal Account Number) and password.
Step 4-
After this, your passbook will open. In this, you will see how much contribution has been made from your employer and your side and how much interest has been received on it. If your interest has been credited by EPFO, it will be reflected in it.
