EPF Interest Rate: For salaried professionals, they can soon get interest money in their Employees Provident Fund Account (EPF). Recently, it was revealed from the sources of Labor Ministry that EPFO can start depositing interest money in EPF account from 28 February.
It may take time till March 15-20 to get the interest money in the account of all the account holders, however, no announcement has been made on this yet. But if the money comes, then it should also come in your account, for this it is necessary that the KYC process of your account is complete and all the details are updated.
EPFO provides facility of online KYC process
The good thing is that EPF account holders have the facility to update their KYC details online. You get many benefits by keeping KYC details updated. Your account runs smoothly, withdrawal is also easy. You can update EPF KYC through UAN EPFO website. For this you must have UAN (Universal Account Number).
What is the process to update KYC details of EPF Account? (How to update KYC details with UAN?)
- Login to your EPF account on the Unified Member Portal of EPFO.
- Go to the ‘Manage’ section and select ‘KYC’.
- Fill all the information asked and click on ‘Save’.
- You will see ‘KYC Pending for Approval’ on the screen.
- Once your employer approves this update, then you will see ‘Digitally approved by the employer’. On the other hand, after updating the details of Aadhaar, you will see ‘Verified by UIDAI’ on it.
If you want to update contact details, then follow this process-
- Go to the member portal of EPFO and login by entering the password along with the UAN.
- Go to the ‘Manage’ section and click on Contact details in the drop down menu below.
- Your mobile number and email address must be pre-entered here.
- If any of these have changed, to update it either click on ‘Change mobile number’ or ‘Change email id’ and then click on ‘Get Authorization Pin’.
Let us inform that EPFO had announced in October that EPF Subscribers will start getting money from November. But, till now the interest is stuck. The Finance Ministry had approved interest payment at the rate of 8.1% in June 2022 itself. Soon the interest money should come in your EPF account.