The Modi government has transferred interest money to the accounts of about 32.39 crore people. People were waiting for the interest to be transferred for a long time. Now this interest has been added to the EPF accounts of the employees.
In fact, this year the Employees’ Provident Fund Organization (EPFO) has given a big relief to crores of employees of the country. Usually, EPF interest is deposited in August or September every year, but this time the interest has been added to the account in early July itself.
This is being considered as another major operational milestone for EPFO. Once you also open your EPF account passbook and check whether the interest on PF has come or not?
Interest received in 2.39 crore accounts?
According to Union Labour Minister Mansukh Mandaviya, for the financial year 2024-25, interest has been credited in 32.39 crore accounts out of 33.56 crore accounts under 13.88 lakh institutions so far. That is, the work has been completed in 99.9% institutions and 96.51% accounts. This is much better than last year, as at that time only 86% of the accounts had received interest till this date.
What is the EPF interest rate?
In January 2025, EPFO announced that the EPF interest rate for 2023-24 will remain at 8.15%. This rate has remained almost constant for the last 5 years. Around Rs 10 lakh crore is invested in EPFO every year and now its total assets (assets under management) have crossed Rs 17 lakh crore. It has become one of the largest pension schemes in the world.
How was the processing so fast this time?
EPFO took several technical and administrative steps to add interest faster this time. UAN, bank and employer records were better linked, which made the process easier. The work was done faster with automation and more staff. Also, manual processing was reduced with automated tools. All employers were given a deadline to update the records by the end of March, which ensured accuracy and timely information. Daily work was being monitored through a live dashboard.
What are the benefits to EPF account holders?
Faster Passbook Update – Now account holders can check their interest faster than ever before.
Financial planning made easy – Getting quick information about interest is useful for tax planning, investing, or taking out a loan.
Increased trust – People’s trust is increasing due to the fast service of EPFO. This is making people’s money safe and the service transparent.
How to check EPF interest?
1. Through the website
Visit epfindia.gov.in.
Click on View Passbook.
Login with UAN and password.
Check the interest information in the passbook.
2. Via mobile app
Download the UMANG app.
Go to EPFO service and view passbook.
3. Through a missed call
Give a missed call to 011-22901406 from your registered mobile.
The balance will be received via SMS.
What to do if interest is not credited to EPF account?
Contact EPFO helpline 1800118005.
Or talk to your company’s HR or payroll department. Sometimes there are delays due to data not being uploaded.
Go to EPFO service and check your passbook.
Via SMS
Give a missed call to 011-22901406 from your registered mobile.
The balance will be received via SMS.
What to do if interest is not credited to your EPF account?
Contact EPFO helpline 1800118005.
Or talk to your company’s HR or payroll department. Sometimes there is a delay due to data not being uploaded.
