EPFO interest rate credit date for 2019-20: Check provident fund balance on UMANG App before dawn of 2021; welcome new year in style
EPFO interest rate credit date for 2019-20: Employees' Provident Fund Organisation (EPFO) has a big thing to do for its subscribers and it has to do it before the deadline, if all things go according to plan.
EPFO interest rate credit date for 2019-20: Employees' Provident Fund Organisation (EPFO) has a big thing to do for its subscribers and it has to do it before the deadline, if all things go according to plan. It has to pay money in their accounts. Notably, EPFO interest rate credit date has been set already. It can happen anytime now. However, officially, interest has to be credited in Employees' Provident Fund (EPF) accounts before January 1, 2021. That is not all, the interest rate that EPFO has to credit is 8.5 percent for 2019-20 and it has to give the entire amount in one go. Earlier in September this year, the Employees Provident Fund Organisation had decided to split the 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, but that has been scrapped. The EPFO interest rate credit will be paid in accounts of around six crore subscribers.
Another big relief that came in the month of December, 2021, PTI quoting highly placed source, said that 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. In this age of coronavirus pandemic, it was being widely felt that the EPFO would not be paying this amount because of the massive hit that the economy has taken. Notably, in March, the EPFO's apex decision making body Central Board of Trustees headed by Labour Minister Santosh Gangwar had approved 8.5 percent interest rate..
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Once the amount is credited in your account, do you know how to actually check it from the comfort of your home? Well, you can do it very easily through the UMANG app.
How to check EPF balance through UMANG App:
Step 1. Download UMANG app, if you haven't already done so
Step 2. Open App
Step 3. Click on EPFO.
Step 4. Click on Employee Centric Services
Step 5. Go to View Passbook option
Step 6. Enter your UAN number
Step 7. Enter password
Step 8. Enter the OTP you received on your registered phone number
Your EPF account balance will be displayed.
How to check EPF account balance online:
Step 1. Log on to epfindia.gov.in
Step 2. Type your UAN number
Step 3. Type in your password
Step 4. Finally, type in the captcha code
Step 1. Click on the e-Passbook
A new page will open and you have to look at member ID where your EPF account balance will be displayed.
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