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EPFO starts crediting interest to provident fund accounts: Here's how to check PF balance via SMS

EPFO starts crediting interest to provident fund accounts: Here's how to check PF balance via SMS

EPFO starts crediting interest to provident fund accounts: Here's how to check PF balance via SMS
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By CNBCTV18.com Nov 8, 2021 1:54:45 PM IST (Updated)

EPFO deposit holders can check their PF balance and interest by sending a text message ‘EPFOHO UAN ENG’ to 7738299899

The Employees' Provident Fund Organisation (EPFO) has started crediting interest to 25 crore provident fund accounts from November 1. The retirement fund body, in a recent tweet, said the interest rate on the Provident fund account investment will remain unchanged at 8.5 percent for the financial year 2020-21. The account holders can check their balance in their accounts without visiting the EPFO office.

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Here’s how to check PF balance through SMS:
1. EPFO deposit holders can check their PF balance and interest by sending a text message ‘EPFOHO UAN ENG’ to 7738299899
2. The user required to type the first three letters of the preferred language in the SMS as per mentioned format
3. The last three digits of the message indicates the first three digits of the preferred language
4. The EPFO provides this service in nine languages — Hindi, Bengali, Tamil, Marathi, Gujarati, Kannada, Punjabi, Telugu and Malayalam.
5. The subscriber has to send the text message from the mobile number that that is registered with the UAN.
6. Once these steps are followed, the EPFO will send balance details and last PF contribution along with KYC details to the registered mobile number
7. New users need to login to the EPFO portal and provide details for initiating the process
However, one can also check EPF balance through EPFO website, missed call and Umang app.
Provident fund is a financial product meant for the post-retirement needs of employees. Any company with 20 or more employees can deduct EPF from the salaries of their employees. An employee contributes 12 percent of the basic salary to EPF, while the employer contributes 8.33 percent towards the Employees’ Pension Scheme and 3.67 percent to employees’ EPF.
EPF deduction is mandatory for employees who draw a salary less than Rs 15,000, but others can opt-out of this scheme through a declaration made in Form 11 of the EPFO. The EPFO decides on the interest rate to be provided to EPF funds on yearly basis.
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