EPFO To Credit Interest of 8.5% For The FY 2020-21: Here’s How To Check Balance

The Employees' Provident Fund Organisation (EPFO) has issued a massive update to EPF members totaling more than 25 crore. EPFO has initiated the practice of crediting interest to provident fund accounts, and all PF account holders will soon receive an 8.5 percent interest payment for the fiscal year 2020-21. Employees Provident Fund Organization (EPFO) has granted directives to credit PF interest rate of 8.5 percent into about 25 crore EPF members' accounts, according to a tweet from EPFO. "EPFO issues instructions to credit interest of 8.5% for the year 2020-21 into some 25.0 crore accounts of members with EPFO" said the Tweet.

EPFO confirmed the announcement of the rate of interest on Employees' Provident Fund Members accounts for the fiscal year 2020-21 in a circular dated 30 October 2021. "The Ministry of Labour and Employment, Government of India, has conveyed the approval of the central government under para 60(1) of Employees' Provident Fund Scheme, 1952 to credit interest @8.50 percent for the year 2020-21 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952," EPFO said in a statement.

As a result of the above-mentioned confirmation by EPFO, PF subscribers can check their balance both online and offline. Members can check their EPF balance offline by sending an SMS to 7738299899 by typing EPFOHO UAN ENG, or by making a missed call to 011-22901406. On the other hand, they can check their PF balance by visiting the EPFO portal. However, EPF subscribers who do not have a Universal Account Number (UAN) can also check their account balance online, click here to know the process.