EPFO Update: If you are also a subscriber of EPFO, then the Employees Provident Fund Organization has sent a special message for you.
EPFO has told that you will be able to find out through the passbook whether your interest money has been deposited in the PF account or not. You can check PF account online, for which you must have UAN number and password.
EPFO has made it clear that there will be no financial loss for late updating of interest. Updating the interest on the passbook is a process. There will be no actual financial loss on the date on which the interest is recorded in the passbook of the member.
No harm in withdrawing money before interest update
If a member withdraws his EPF balance before the interest is updated in his passbook, in that case also the interest payable at the time of claim settlement is calculated and automatically paid by the system from the date of delivery . Even in this case there is no financial loss to any member.
EPFO interest rate
For the financial year 2023, the interest rate on provident fund of employees has been increased to 8.15 percent. This will benefit more than six crore shareholders of Employees’ Provident Fund.
ईपीएफ सदस्य की पासबुक को ब्याज सहित अद्यतन करने से संबंधित अक्सर पूछे जाने वाला प्रश्न और इसका उत्तर…#AmritMahotsav #ईपीएफ #EPFOwithyou #epf @PMOIndia @byadavbjp @Rameswar_Teli @LabourMinistry @PIB_India @MIB_India pic.twitter.com/3hsL7xmDBF
— EPFO (@socialepfo) May 31, 2023
How to check passbook online?
You can access EPFO passbook online through EPFO website or mobile app. To do this you will need your Universal Account Number (UAN) and password.
Update on Higher Pension
The last date for submission of form under Higher Pension has been extended by EPFO to 26 June 2023. Earlier this month, the labor ministry also cleared that an additional contribution of 1.16 per cent of basic pay for a member opting for higher pension would be barred from employers’ contribution to social security schemes run by the EPFO.