- Employees Provident Fund offers 8.25% interest for FY 2024-25 as approved by the government
- Both employer and employee contribute 12% of basic salary and dearness allowance monthly to EPF
- EPFO began crediting FY25 interest from June 6, with most accounts updated by end of June
Employees' Provident Fund (PF) is a government-backed savings scheme for private sector employees in India, offering guaranteed returns on a portion of their monthly income. Under this scheme, both the employer and employee contribute 12% of the basic salary and dearness allowance every month.
The government periodically reviews and fixes interest rate for EPF deposits. For FY 2024-25, the government approved an interest rate of 8.25%.
Compared to conservative investment instruments like fixed deposits, PF offers higher returns and also allows partial withdrawal for emergencies. EPF interest amount is calculated based on the running balance every month, but it is credited to the member's account after the end of the financial year.
In 2023-2024, EPFO began the process of crediting the interest to members' accounts in August, which lasted until December.
However, the government has revised the timeline for FY2024-25. On July 8, Labour Minister Mansukh Mandaviya confirmed that the EPFO began crediting 8.25% interest for FY25 from June 6. According to Mandaviya, 99.9% of establishments and 96.51% of the total EPFO member accounts were already updated by the end of June. The rest were expected to be completed by mid-July.
Here's How To Check 8.25% PF Interest Crediting Status Online:
· Visit the official EPFO website and go to the ‘Employees' section.
· Click on ‘Member Passbook' under Services.
· Log in using your UAN and password.
· Head to the passbook section on the homepage.
· Your EPF passbook will be displayed on the screen.
Steps To Check PF Balance Via SMS
· Open the SMS app on your registered mobile number.
· Type EPFOHO UAN for English or EPFOHO UAN XXX for other languages (e.g., TEL for Telugu).
· Send the SMS to 7738299899.
· Wait for a reply from EPFO.
· You'll receive an SMS with your latest PF balance and other details.
Steps To Check PF Details Via Missed Call
· Ensure your mobile number is registered and linked with your UAN on the EPFO portal.
· Make sure at least one KYC detail (Bank, Aadhaar, or PAN) is updated with UAN.
· Give a missed call to 9966044425 from your registered mobile number.
· The call will disconnect automatically after two rings.
· You will receive an SMS with your PF balance details.
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