Retirement fund body Employees' Provident Fund Organisation (EPFO) is likely to credit 8.5 percent rate of interest for 2019-20 in the employees' provident fund (EPF) accounts of around six crore subscribers in one go by the end of December.
Earlier in September this year, the EPFO had decided to split 8.5 percent interest into two installments of 8.15 percent and 0.35 percent in its trustees meet headed by Labour Minister Santosh Gangwar.
EPFO likely to credit 8.5% interest on EPF for 2019-20 by December
However, the Labour Ministry has sent a proposal to the Finance Ministry to give concurrence to credit 8.5 percent rate of interest on EPF for 2019-20 earlier this month.
Earlier in March this year, the EPFO's Central Board of Trustees approved 8.5 percent interest rate on EPF for 2019-20. Citing choppy market conditions amid the lockdowns imposed to curb the spread of COVID-19, the first instalment could not see the light of day yet.
However, subscribers could check their EPF balance and the status of the interest via a missed call. Here's how:
1) Dial 011-22901406 from the phone registered with Universal Account number (UAN) account.
2) The call will cut after two rings automatically.
3) No money will be charged to this service.
4) The phone user should have done KYC with the EPFO.
Know EPF balance via SMS:
- User should type EPFOHO and send it to 7738299899.
- For receiving the message in Hindi, a person will have to type 'EPFOHO UAN' and send it to 7738299899.
- For any other details, a user should visit https://unifiedportal-mem.epfindia.gov.in/memberinterface
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