While there’s a lot of discussion about the money deposited in a Provident Fund (PF) account and the pension it provides, many people aren’t even aware of its third benefit. Did you know that all salaried individuals with an account with the Employees’ Provident Fund Organization (EPFO) are automatically insured, without paying any premium? Yes, it’s absolutely true that employees receive life insurance benefits without a single rupee being deducted from their salary. Let’s learn about the life insurance benefits available to PF account holders.

EPFO Provides Automatic Life Insurance
EPFO, which manages PF accounts, provides automatic life insurance to salaried individuals working in the private sector. This is called the Employees’ Deposit Linked Insurance (EDLI) scheme. According to the rules, all EPF members are automatically eligible for this scheme. However, the premium is paid by the employer, not the employee. However, employers never even mention paying the EDLI premium.

Employees receive life insurance absolutely free.
In fact, the premium amount for the EDLI scheme is very small. According to the rules, the maximum monthly premium can be only ₹75. The premium is determined based on the employee’s basic salary. The EDLI scheme premium is only 0.5% of the basic salary. The rule also stipulates that the EDLI scheme premium can only be paid on a basic salary of ₹15,000. Therefore, the premium for ₹15,000 is ₹75, which is the maximum limit for the EDLI scheme.

Family members can receive up to ₹2.5 lakh to ₹7 lakh.
This life insurance benefit, available on the PF account, is passed on to the family members of the employee upon their death while in service. Fortunately, the cause and location of death are independent of the insurance amount payment. If an employee has been employed for the past 12 months and dies for any reason, whether in the country or abroad, their family will receive the insurance amount. This amount can be up to a maximum of ₹7 lakh. Let’s figure it out.

Know the PF insurance amount calculation
The amount of insurance money that the deceased’s family will receive depends on the deceased’s last salary and the average balance in their PF account over the past 12 months. According to the rules, a minimum of ₹2.5 lakh is given, with a maximum of ₹7 lakh. There is a fixed formula for calculating the amount a deceased’s family will receive, ranging from ₹2.5 lakh to ₹7 lakh.

30 × (average basic salary for 12 months, which can be a maximum of ₹15,000) + bonus. The bonus amount is also fixed at ₹2.5 lakh. Therefore, even if an employee has no money left in their account, they will still receive at least ₹2.5 lakh as bonus. Similarly, if an employee has deposits in his account up to the maximum limit of basic salary of Rs 15,000, then on his death, his family will get (30 × ₹15,000) + ₹2,50,000 = ₹4,50,000 + ₹2,50,000 = ₹7,00,000.

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1. Updating profile has become very easy

EPFO has now made the process of updating the profile very simple. If your Universal Account Number (UAN) is linked to Aadhaar, then now you can update your name, date of birth, gender, nationality, parents’ name, marital status, spouse’s name and date of starting the job online without any documents.

2. PF transfer is now easier

Earlier, transferring PF while changing jobs was a long and sometimes troublesome process. Work could not be done without the approval of the company. But now this process has been made quite easy. Now in most cases, approval of the old or new employer is not required for PF transfer. This makes the PF money transferred to the new account quickly and easily.

3. Joint declaration made easy

EPFO has made the joint declaration process digital. If your UAN is linked to Aadhaar or Aadhaar is already verified then you can submit the joint declaration online.

4. CPPS system introduced

EPFO has started the Centralized Pension Payment System (CPPS). Under this, now pension will be sent directly to any bank account through NPCI platform. Earlier, for pension payment, PPO (Pension Payment Order) had to be transferred from one regional office to another, which caused delay.

5. The process of pension on salary became clear

For those employees who want to take pension on their higher salary, EPFO ​​has now clarified the entire process. Now a uniform method will be adopted for everyone. If an employee’s salary is more than the prescribed limit and he wants pension on it, then he can get this facility by paying additional contribution.

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The Employees’ Provident Fund Organization (EPFO) has recently made many important changes in its functioning. Its aim is to make the process faster, simpler and digital for Provident Fund (PF) account holders. These changes are not only technologically advanced, but are also directly benefiting millions of employees. Let us know the 7 major changes of EPFO ​​​​which were implemented in recent months.

1. Form 13 process for PF transfer simplified

EPFO has simplified the process of Form 13 from January 2025. Now in most cases, employer approval is not required. This will make PF transfer faster. Automatic merger of old and new PF accounts has also become possible. Also, clarity on the taxable and non-taxable part of the PF amount will also make the calculation of TDS accurate.

2. UAN activation through Aadhaar face authentication

EPFO has introduced the facility to generate and activate UAN through UMANG app by implementing Aadhaar based face authentication technology. This is especially beneficial for those 70% members who have not been able to activate UAN till now.

3. Employer approval requirement for bank account linking is abolished

Now PF account holders can link their bank account to UAN directly through NPCI/Bank. Earlier this process required the approval of the employer, which took an average of 16 days. This hurdle has now been removed.

4. No need to upload check leaf or passbook

Now, members need not upload the image of cheque leaf or bank passbook while filing online claim, provided their bank account is verified through NPCI.

5. PF advance will be available for home repair through self-declaration

Under Para 68B(7) of the EPF Scheme 1952, now members can take PF advance for repairs only on the basis of self-declaration after 5 years of construction of the house. However, this facility will be available only if it is not linked to the housing advance taken earlier.

6. Facility of UAN generation in bulk without linking Aadhaar

EPFO has implemented a new system through which employers can generate UAN even for those employees whose Aadhaar is not linked. This facility has been provided especially in those cases where old PF contributions are now being merged into EPFO.

7. One-time payment of dues is now possible through demand draft also

EPFO has allowed one-time payment of old dues through demand draft in cases where payment through electronic challan is not possible. This facility will be given only under special circumstances on the satisfaction of the regional officer.

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Hyderabad: There is a great news for PF account holders. Now they will not have to face much trouble to withdraw money from PF account. Rather, now they can withdraw PF money through UPI.

The government is working on making such a system. This facility can be started in the next two to three months.

According to sources, EPFO ​​is taking this step for the convenience of its subscribers. With the integration of EPF with UPI, subscribers can withdraw money from their PF account through a digital wallet. The Labor Ministry is making changes in the digital systems of EPFO ​​​​in collaboration with commercial banks and RBI. Its purpose is to simplify the withdrawal process and improve user experience. Experts say that this facility will be very convenient for members living in remote areas.

What is in the new system?

It is said that EPFO ​​is taking such a step for its account holders. At the same time, the government is working on such a system in which EPFO ​​account holders will be able to process their claims through UPI. As a result, the process of transferring funds will become easier as well as faster. According to the report of Financial Express, EPFO ​​has prepared a blueprint for this and discussions are going on with the National Payment Corporation of India (NPCI).

How will subscribers get benefits?

The post PF Withdrawal through UPI: PF money can be withdrawn through UPI, when will the facility start? first appeared on Rightsofemployees.com.

With this step, PF account holders will be able to get fixed interest every year and they will get relief from market fluctuations. To prepare this fund, officials of the Ministry of Labor and Employment and EPFO ​​are studying internally.

A fixed portion is invested in the market

Actually, a fixed part of the PF fund is invested in the market by EPFO. Many times EPFO ​​gets less returns on Exchange Traded Fund (ETF) and other investments. EPFO ​​members also have to bear the brunt of this. When there is a decline in the stock market, it also affects the amount received on EPFO’s investment. Due to low returns, EPFO ​​also has to reduce the interest rate of PF.

To avoid such problems, EPFO ​​is considering creating a reserve fund that will keep the return on investment stable. This will enable PF account holders to get fixed interest every year, no matter what the market conditions are.

How will this fund work?

According to the news published in Hindustan website, EPFO ​​will keep aside a part of the interest earned every year under this scheme and deposit it in the reserve fund. Whenever there is a fall in the market and the return from investment is low, then the interest rate will be kept stable by using this fund. More than seven crore members of EPFO ​​will benefit from this.

When will the decision be taken?

Right now the scheme is in the initial stage. Officials of the Ministry of Labor and Employment and EPFO ​​​​are studying it. A final decision can be taken on this in the next four to six months. Let us tell you that when EPFO ​​​​was started in 1952-53, at that time only 3% interest was available on PF. By 1989-90 it increased to 12%, which remained till the year 2000-01. After this, there were changes in it from time to time. Currently, the interest of EPFO ​​​​in 2023-24 is 8.25%.

Important meeting will be held on 28 February

The Central Board of Trustees (CBT) of EPFO ​​will meet on 28 February to decide the PF interest rate for the financial year 2024-25. There may be a discussion on keeping the interest rate stable or increasing it marginally. However, the possibility of reduction in interest rates is being said to be very low.

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Facility to withdraw PF funds from ATM

EPFO is planning to give employees the option of withdrawing funds 24 hours a day and 7 days a week. The organization can provide the facility of withdrawing funds through ATM to PF holders from this year itself. With the implementation of this new rule, PF subscribers will be able to withdraw money from ATM, which currently takes 7 to 10 days.

Change in employee contribution limit

This year, the organization can also change the limit of contribution to the fund by the employees. Under EPFO, currently, the employee himself contributes 12% of the fund and the company contributes the same amount. The government can increase this limit.

IT systems upgrade

EPFO is upgrading its IT system this year, so that PF holders can easily deposit funds. It is being said that the organization will complete the IT upgrade by June 2025. Along with this, claims can be settled easily due to the system upgrade.

Option to invest in equity

The Employees Provident Fund Organization can give the option of investing in equity to PF holders. With this, PF holders will be able to manage their funds themselves and also get higher returns from there.

Ease of pension withdrawal

Under EPFO, PF fund is known as a retirement fund, from which PF holders get pension after retirement. EPFO ​​is making important changes to make it easier for employees to withdraw pension funds. Now pensioners will be able to withdraw money without any additional banking verification.

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The Labor Ministry is upgrading its IT systems to provide better service to a large workforce of the country. The Labor Secretary said, ‘We are quickly settling the claims filed by the members and simplifying the process to improve the ease of living. Now a beneficiary making a claim can get his claim amount directly from the ATM. This will minimize human intervention and make the process easier.’

The money for which the claim has been filed by the employees will be withdrawn from the ATM. Employees have to apply for partial withdrawal. Employees can withdraw PF money only under certain circumstances. Employees can submit a claim for partial withdrawal through the EPFO ​​website (https://www.epfindia.gov.in) or the Umang app.

Big changes will be seen in the new year

The Labor Secretary told news agency ANI, ‘Systems are constantly being upgraded. Every 2 to 3 months you will see significant improvements. I am confident that a big change will be seen from January 2025. When we will have IT 2.1 version in EPFO. ‘ He said that our goal is to bring the IT infrastructure of EPFO ​​to the same level as our banking system. Let us tell you that EPFO ​​​​i.e. Employees Provident Fund Organization has about 7 crore active contributors. The Labor Secretary also praised the government’s efforts towards improving EPFO ​​​​services to increase the ease of living.

Gig workers will get these benefits

Regarding the plans to provide social security benefits to gig workers, the labour secretary said the progress is in an advanced stage but refrained from giving any timeline. “A lot of work has been done and we have outlined a plan, which will now be finalised. These benefits may include medical health coverage, PF and financial assistance in case of disability,” he said. A committee comprising representatives of various stakeholders has been set up to propose a framework for providing social security and welfare benefits to gig and platform workers. Gig and platform workers were first defined in the Social Security Code of 2020, which was enacted by Parliament. The Code contains provisions relating to their social security and welfare.

Unemployment has decreased significantly

On the issue of unemployment, the Labour Secretary said that the unemployment rate has declined. He said, “The unemployment rate was 6 per cent in 2017. Today, it has come down to 3.2 per cent. Moreover, our workforce is growing. The labour force participation rate is increasing and the worker participation ratio, which indicates how many people are actually employed, has reached 58 per cent and is rising.”

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The post New EPFO ​​Rules: PF account holders withdraw PF money directly ATM from the year 2025. Check all Details first appeared on Rightsofemployees.com.

In which 8.33% goes to the pension fund and 3.67% goes to the PF account. Often a question comes in the mind of many people. If a PF account holder works for 60 years. Then how much pension will he get after 60 years. What are the rules of EPFO ​​regarding this. So let us tell you its complete calculation.

EPFO rules regarding pension

According to EPFO ​​rules, if someone invests in a PF account for 10 years, he becomes eligible to get pension. After 50 years, a PF account holder can claim pension. But if he claims pension before 58 years, then there will be a deduction of 4% every year. That is, if someone claims pension at the age of 54, then there will be a deduction of 16%.

But if someone does not claim pension even after 58 years, then at the age of 60, he will get 8% more pension at the rate of 4% increase every year. Let us tell you that under the current rules of EPFO, the maximum limit of pensionable salary is Rs 15000. That is, every month only Rs 15000 X 8.33/100 = 1250 can be deposited in your PF pension fund.

After 60 years, you will get this much pension

If you started working at the age of 23 and you are retiring at the age of 58, then you have worked for a total of 35 years. Under the old pension scheme of EPFO, the maximum pensionable salary is Rs 15,000. When any employee leaves UPS, his pensionable salary for the last 60 months is his average monthly salary.

It will be calculated like this:

Pensionable Salary X Pensionable Service/70 = Monthly Pension

15000 X 35/70 = 7500

On the other hand, if you do not claim pension till the age of 8 years, then you get pension at an extra rate of 8 percent.

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EPFO reviews interest rates based on the income earned from investments in debt and equity. In the last quarter of every financial year, CBT recommends interest rates. This interest rate is almost fixed which is sent to the Center for approval. It is not necessary that every time the recommendation is made to increase the interest rate. This recommendation can also be to not make any change or to reduce the interest rate.

Attention EPF Members

The rate of interest for the Financial Year 2023-24 @ 8.25% for EPF members has been notified by the government in May of 2024. @LabourMinistry @mygovindia @MIB_India @PIB_India #EPFO #IntrestRate #EPFO #HumHainNaa #EPFOwithYou #ईपीएफओ

— EPFO (@socialepfo) July 11, 2024

EPFO has given this information through a tweet on the social media platform X. The tweet reads, “EPF members please note. The interest rate of 8.25 per cent for the financial year 2023-24 has been notified by the Central Government from May 2024.”

The post EPF Rate Hike: Government notified 8.25% EPF rate for financial year 2023-24, check details first appeared on Rightsofemployees.com.

EPFO New Rules- Every employed person in India has an EPF account. These accounts are operated by the Employees Provident Fund Organization i.e. EPFO. Every month, 12 percent is deducted from the employee’s salary and deposited in this account. You can also use this fund in emergency (emergencuy fund) and apply online for advance withdrawal.

If you are also employed then there is news beneficial for you. Those employed by EPFO have got a big relief. EPFO has changed the rules for withdrawing money. Now the EPFO cash withdrawal limit has been doubled. However, EPFO has doubled the amount to withdraw money for treatment. Let us tell you how much money you can withdraw now?

For information, let us tell you that the rules for medical related advance withdrawal have been changed by EPFO. Earlier this claim limit was Rs 50,000 and now it has been increased to Rs 1 lakh. This came to light from the circular issued on April 16. According to the circular issued by EPFO, now you can withdraw Rs 1 lakh.

This form is for partial withdrawal

Let us tell you that EPFO has doubled the limit for withdrawal of money under para 68J of Form 31 (EPFO Limit double). Form 31 of EPF is for partial withdrawal. This form is used for premature withdrawal of money for many purposes. In this you can withdraw money to build a house, buy a house, get married and get treatment.

Know when you can withdraw Rs 1 lakh?

For information, let us tell you that Para 68J of Form 31 is used to withdraw partial amount for the treatment of disease (form 31 for withdraw partial amount). Under this, earlier you could withdraw only Rs 50,000, but now you can withdraw Rs 1 lakh. But while withdrawing the money, you have to keep in mind that the employees cannot withdraw their 6 months’ bequest and DA or the employee’s share along with interest. But yes… If you have funds of Rs 1 lakh in your account above this amount, then you can withdraw it.

Under what circumstances can a claim be made?

According to EPFO, account holders can use this money only for life-threatening diseases (withdrawal of pf amount for disease). You can also withdraw money when the employee or his patient is admitted in the hospital.

Let us tell you that it is necessary for the employee to be admitted in a government hospital or any hospital associated with the government. At the same time, if you have admitted the patient in a private hospital, then he will be examined first and then you can make a claim.

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New Delhi. Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?

• Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.
• Rules for withdrawing full money from PF
• When the employee retires, the entire amount can be withdrawn at once.
• If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal

Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

For home loan repayment: Money can also be withdrawn from PF fund to repay home loan. For this it is necessary to have ten years of service. For this, employees can withdraw 36 times their basic and dearness allowance. Along with this, the total amount deposited in PF can also be withdrawn. Or the employee can withdraw an amount equal to the total outstanding principal and interest of the home loan.

If you are withdrawing money for home loan repayment, then this home loan should be in the name of the employee or both the husband and wife. The total amount in the employee’s account should be more than Rs 20 thousand. Along with this, the employee will have to submit home loan related documents to EPFO.

Home Renovation: Employees can also withdraw PF money for house renovation. For this, he can withdraw 12 times his basic and dearness allowance. Along with this, you can withdraw the total cost or the employee’s share and interest deposited in PF. This property should be in the name of the employee or in the name of both husband and wife. To get the money for this item, it is necessary that the house has been built for five years.

Partial withdrawal before retirement: If the employee has completed 58 years of age, then he can withdraw 90 percent of the total amount deposited in PF one year before retirement.

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Employees’ Provident Fund Organization (EPFO) has approved increasing the interest on PF. After this, now more than 7 crore people are going to get the benefit of increased interest rates. EPFO has approved interest of 8.25 percent for PF account holders. Now crores of PF account holders are waiting for the interest money to be credited to their PF account.

Earlier I was getting this much interest-

EPFO’s Central Board of Trustees meeting was held on 10 February. After the meeting, an official statement said that CBT has approved the interest rate on PF at the rate of 8.25 percent for the financial year 2023-24.

Earlier, PF account holders were getting interest at the rate of 8.15 percent in the financial year 2022-23 and 8.10 percent in 2021-22. In this way, now the interest on PF has increased to the highest in 3 years.

Record money is going to be received this time-

It was told in the statement that EPFO has earned more this time, hence it has been decided to give the benefit of higher interest to PF account holders. This time EPFO is going to distribute a total of Rs 1.07 lakh crore as interest. This will be the first time that EPFO is going to distribute more than Rs 1 lakh crore to the subscribers.

This is how EPFO earns-

EPFO manages the Social Security Fund PF. PF is the biggest social security for people working in the private sector. Currently it has more than 7 crore subscribers across the country. EPFO currently has funds deposited with about Rs 13 lakh crore.

EPFO earns this fund by investing it in various places including the stock market and the money earned is returned to the subscribers in the form of interest. Interest money is credited to the subscribers’ accounts twice a year by EPFO.

Now we will have to wait a little-

After getting approval from the Central Board of Trustees of EPFO, now PF account holders are waiting for the interest money to be credited. After the approval of CBT, the decision taken on the interest rate awaits the approval of the Finance Ministry.

After getting the final approval from the Finance Ministry, the interest rates are notified in the gadget, after which the interest money is sent to the account. This means that people will have to wait a little longer for the interest money.

You can check balance in these ways-

Subscribers are informed about this through message alerts. PF account holders can also check their balance and get information about PF interest amount. For this, PF account holders get many options.

Account details can be checked by logging in directly to the EPFO website. The facility to check balance is also available through Umang App. Apart from these, balance can also be checked through missed call and message.

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Giving a big gift to PF account holders, Employees Provident Fund Organization (EPFO) on Saturday announced increase in interest rates, it has now been increased to 8.25 percent. After the increase in interest on PF in the election year, now an increase in Dearness Allowance (DA Hike) is being expected soon. If reports are to be believed, the government may take a major decision on this in March 2024. If this happens, then the DA given to central employees will be 50 percent.

Interest on PF increased, expectation of DA increased

The Central Board of Trustees (CBT) of EPFO has announced the new interest rate for the Employees Provident Fund (EPF) account for the financial year 2023-24. EPFO has given a gift to about 7 crore employees of the country and has increased it to 8.25 percent.

According to PTI, PF account holders will now get 0.10 percent more interest than before. On March 28 last year, EPFO had announced an interest rate of 8.15 percent for Employees Provident Fund (EPF) accounts for 2022-23. With the increase in PF interest rate, the expectation of DA hike has also increased among the central employees.

4% DA hike expected in March

The government increases the dearness allowance of employees twice a year and the DA Hike for the January-June half year is expected to be announced in March 2024. If reports are to be believed, this time the government can give a gift of 4 percent DA Hike to the central employees before the elections and it can be announced next month.

Let us tell you here that this expectation is being expressed on the basis of various reports, whereas no official comment has been made by the government in this regard yet. But if there is an increase of 4 percent in DA, then there will be a bumper increase in the salary of the employees. At present the DA of central employees is 46 percent, which can be increased to 50 percent.

Along with DA, increase in HRA is also possible

On one hand, a 4 percent increase in dearness allowance of central employees is being expected and if this happens, then the employees will get its benefit from January 1, 2024. Along with this, when the dearness allowance reaches 50 percent, there may also be an increase in the house rent allowance given to the employees.

In the month of July 2021, when DA crossed 25 percent, an increase of 3 percent was seen in HRA and it was increased to 27 percent. In such a situation, HRA hike is once again expected when DA is 50 percent and if reports are to be believed, it can be increased to 30 percent.

Revision is done twice a year

The government revises the dearness allowance given to central employees twice a year. The benefits of which are given to them from 1st January and 1st July. Talking about its calculation, Dearness Allowance or DA is an important part of the salary of the employees and the increase in it has a direct impact on the salary received by the employees. It is determined on the basis of inflation rate.

The higher the inflation, the higher the increase in DA of employees is expected. All India CPI-IW for December 2023 declined by 0.3 points to 138.8. On this basis, it is being estimated that the government may increase DA by 4 percent.

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If you do not know, then let us tell you that Rs 8150 will come into the accounts of these PF account holders. After this news came out, people would have started calculating it. Let us know in detail in the news below-

The government has given great news to those employed people whose PF is deducted from their salary every month. Yes, the government has increased the interest rates of EPF (EPFO interest rate) for the second consecutive year. Earlier, the government had increased it by 0.05 percent for the financial year 2022-23 and now it has increased it by 0.10 percent for the financial year 2023-24.

This means that in two years, the government has increased the interest on EPF by 0.15 percent, taking the total interest rate to 8.25 percent. Which is 3 years high.

Now the biggest question is that after this decision, how much money will come to your account as interest. After the news came, many people would have started calculating it. There is a formula to calculate it. Only after applying this, you will be able to know how much money will come to your account in the form of interest. Also, how much benefit have you received from this decision?

How is your EPF deducted?

According to the EPFO Act, 12 percent of the employee’s basic salary and inflation is deposited in the provident fund account. On the other hand, the company contributes 12 percent to the employee’s EPF account. But there is a little change in this also. 3.67 percent of the employer contribution goes to EPF and the remaining 8.33 percent is deposited in the pension scheme. In this way the provident fund of any employee is created.

How much interest money will come to the account?

EPFO’s organization CBT has decided to increase EPF interest rates to 8.25 percent. Earlier this interest rate was 8.10 percent. Now let us try to understand it with a calculation. There is a formula for this. Suppose there is a total deposit of Rs 1 lakh in your PF account.

So in the last financial year, you would have got Rs 8,150 in your account at 8.15 percent interest. Now this interest rate has been increased to 8.25 percent. If an account holder has Rs 1 lakh in his account, he will get Rs 8250 as interest. This means that the EPF account holder will get a benefit of Rs 100.

How to check EPF balance through portal-

• First of all you have to go to EPFO portal www.epfindia.gov.in.
• After that you have to click on E-PassBook option.
• A new page will open and you will have to enter UAN, password and captcha code and log in.
• After logging in, you will have to select the Member ID option for Passbook.
• After which you will get the passbook in PDF format, which can be downloaded.
• You can access the passbook directly at https://passbook.epfindia.gov.in/.

These are the benefits of EPFO account-

By default insurance is available on your PF account. Under the EDLI (Employee Deposit Linked Insurance) scheme, insurance up to Rs 6 lakh is available on PF account. Under this scheme the account holder gets a lump sum payment. Its benefit can be taken at the time of any illness or accident and death.

2. Pension after retirement

In case regular pension is deposited in the PF account for 10 years, the benefit of Employee Pension Scheme is available on the account. If an account holder remains in the job for 10 years and the amount is continuously deposited in his account, then under the Employee Pension Scheme 1995, he gets a minimum pension of one thousand rupees after retirement. However, now talks are going on to increase the pension fund.

3. Interest will be given on inactive accounts

EPFO has decided to pay interest on inoperative accounts only a few years ago, earlier this was not the case. Accounts in which no transaction has taken place for three years are put in the category of inactive accounts. Experts say that you should get your PF account transferred as soon as you change jobs. If this is not done, if the account remains inactive for more than five years, tax will have to be paid on it at the time of withdrawal.

4. PF account will be transferred automatically

Transferring PF money after changing job is now easier than before. Through your unique number linked to Aadhaar, you can maintain more than one PF account at one place. On joining a new job, there will be no need to fill Form-13 to claim EPF money. EPFO has recently issued a new Form-11. With this your previous account will be transferred to the new account.

5. Money will come to the account within an hour

You can withdraw money from your PF account in certain situations. It takes three to four days for this money to reach your account. But the government has started a new facility in view of the Corona epidemic.

Under this, money will come into the account within one hour of application. This facility has been started under medical emergency. Apart from this, you can also withdraw PF money for buying a house, higher education of children or marriage of a girl.

The post EPF interest rate : 8150 rupees will come to the account of PF account holders, understand the formula first appeared on Rightsofemployees.com.

Now the Employees’ Provident Fund Organization (EPFO) has made nomination mandatory for all EPF members. EPFO deprives the EPF account holder of many of its services if he does not declare his nominee in the account. These facilities also include checking the balance of PF account.

By being a nominee, after the death of the account holder, the money goes to the person to whom the account holder wanted to give it. An account holder can also become more than one nominee. You can do online nomination (E-Nomination) in EPFO ​​account.

E-nomination is very useful in providing PF benefits to the PF account holder and his family. Online claim and settlement of provident fund, pension, insurance benefits in case of death of a PF subscriber is possible only when e-nomination is done. If the employee has not mentioned a nominee and the employee dies, his heir has to go to the civil court to obtain succession certificate for release of PF.

Who can be made the nominee?

Actually, the rule is that the PF account holder can make nominees only for his family members. If a person does not have a family, then in that case he can also declare any other person as his nominee. After making someone else a nominee, if the family’s address is known then the nomination of the non-relative gets cancelled. An EPF account holder can make more than one nominee. If there is more than one nominee, more details have to be given. It has to be clearly stated as to how much amount is to be given to which nominee.

E-nomination is mandatory.

EPFO ​​has made e-nomination mandatory. If a member does not do e-nomination then he cannot see his PF account balance and passbook. For e-nomination, the account holder’s UAN must be active and the mobile number must be linked to Aadhaar. The online account holder can also do e-nomination sitting at home.

This is the method of e-nomination

• Log in to the official website of EPFO, epfindia.gov.in.
• In the ‘Service’ tab, click on the ‘For Employees’ tab from the drop-down menu.
• Now log in with your UAN.
• Manage tab will appear. Select e-nomination in this.
• Now fill your permanent and current address.
• To change the family declaration, select Yes.
• Enter the nominee information and click on Save.
• Now click on the e-sign icon and proceed.
• Enter your Aadhaar number and also fill the OTP received on the registered mobile number.
• After completing this process, your nomination will now be updated.

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EPFO invests the deposits of PF account holders in many places. A part of the earnings from this investment is given to the account holders in the form of interest. According to the circular of EPFO, interest will be deposited at the rate of 8.15% for the year 2022-23 in the account of each member of the EPF scheme. Although, the last time 8.15 percent interest rate was announced in March, the same interest rate has been kept in force in July.

Employees’ Provident Fund is a mandatory contribution for salaried employees. The employer is also bound to make an equal contribution to the EPF account. An employee contributes 12% of his earnings to his EPF account on a monthly basis. The entire contribution of the employee is deposited in the EPF account. While, only 3.67 per cent is deposited in the EPF account in the case of the employer, the remaining 8.33 per cent goes to the Employees’ Pension Scheme (EPS).

4 ways to check balance in EPF account

1. Using UMANG App
2. By visiting the EPF member e-Sewa portal
3. By giving a missed call to the toll free number of EPFO
4. By sending SMS to EPFO ​​number

How to check EPF balance through EPFO ​​portal

1. Visit the official website https://www.epfindia.gov.in/ to check EPFO ​​member pf balance
2. Now from the member homepage select the option Click here to check your PF balance
3. After this EPFO ​​page will appear, after this the balance of the member will appear
4. EPFO member now select your state
5. After this enter the head office of EPF
6. Enter your business code
7. Enter PF account number, name and mobile phone number
8. Check the box ‘I agree’ in the Acknowledgment box.
9. Now the balance details of your PF account will appear.

The post PF interest rate: EPFO has implemented the new rate of PF interest, check account balance first appeared on Rightsofemployees.com.

Announcing this e-passbook on Tuesday, Union Labor and Employment Minister Bhupendra Yadav said that now the PF account holders will be able to get their account details easily from home.

On Tuesday, EPFO ​​has also decided to increase the interest rates. EPFO’s interest rates have been increased, giving great news to crores of its account holders, Employees Provident Fund Organization has increased the interest rates of Employee Provident Fund. The government has increased this from 8.10 percent to 8.15 percent. After this decision, more than 6 crore PF account holders across the country will get its benefit.

It is worth noting that in the year 2021-22, the interest rates were reduced to 8.1 percent, which has been the lowest in the last 40 years. According to the data released by EPFO, in January 2023, a total of 14.86 lakh subscribers were added to it. Along with this, in yesterday’s CBT meeting, Labor Minister Bhupendra Yadav has also unveiled the facility of crèches in total 63 regional offices.

This facility has been started in those places where there are more than 100 employees. Along with this, the minister has also laid the foundation stone of the office building in Prayagraj, UP.

How to check your e-passbook of EPFO

1. To check the e-passbook of EPF, login to the official website epfindia.gov.in.
2. Enter your UAN number, password and captcha.
3. After this click on e-passbook will appear.
4. You will have to enter the rest of the requested information and a new page will open in front of you.
5. Open your member ID.
6. Within a few minutes you will be able to check your EPF account balance.

The post Great news for EPFO ​​subscribers, now account details will be available sitting at home first appeared on Rightsofemployees.com.

Union Labor and Employment Minister Bhupendra Yadav launched the e-passbook facility for the subscribers of Employees’ Provident Fund Organization (EPFO). EPFO said in the statement that with this the members will be able to see the details of their accounts in detail.

14.86 lakh subscribers added in January

According to official data, EPFO ​​added 14.86 lakh subscribers in January this year. Yadav, who is also holding the responsibility of the chairman of the Central Board of Trustees (CBT), inaugurated baby crèche centers in 63 regional offices of EPFO. These Cradle Centers have been opened in those regional offices where there are more than 100 employees. Apart from this, the minister laid the foundation stone for the regional office at Prayagraj in Uttar Pradesh.

The Board of Trustees approved a five-year plan to enhance the physical infrastructure of EPFO. This includes land purchase, building construction and special repairs at a cost of Rs 2,200 crore. According to the statement, the Board was apprised of the steps taken to comply with the Supreme Court judgment regarding pension on higher pay.

The post EPFO Start News Service: New facility started for PF account holders after interest rate hike first appeared on Rightsofemployees.com.

According to the news agency PTI , after a two-day meeting of the Central Board of Trustees (CBT) of EPFO, it was decided to increase the interest rates of PF by 0.05 percent. Its interest rate was 8.10 percent in the last financial year, which has now increased to 8.15 percent. Earlier, the lowest PF interest rate was 8 percent in 1977-78.

There are not many screws left

that after the seal of the trustees of EPFO, the new interest rate will be applicable on the PF account. For this, it is also necessary to take the approval of the government. The Finance Ministry will also review the interest rate fixed for 2022-23 and only after it is approved, the way to send the interest money to the account will be clear. It is noteworthy that even the interest money for the financial year 2021-22 has not yet been received by the PF account holders.

Earlier the intention was to keep 8 percent, then…

speculations were being made that this time the interest rate on PF account is to be reduced once again to 8 percent. But the trustees felt that considering the inflation, more interest should be given to the account holders. On the first day of the meeting, the issue of higher pension was also discussed between the Union Labor Minister Bhupendra Yadav and the trustees. It was informed that EPFO ​​is completing the process of providing higher pension to eligible subscribers.

Decreasing interest since 2018-19

The interest rate on PF is continuously decreasing since the financial year 2018-19. In the last financial year, the government had saved Rs 450 crore by reducing the interest rate to 8.10 per cent. In such a situation, it seemed that this year also the interest rate would remain the same or it would be reduced to 8 percent. In 2018-19, the interest on PF was 8.65 per cent, which was reduced to 8.50 per cent in 2019-20. The interest rate was the same in 2020-21 as well, whereas in 2021-22 it was reduced to 8.10 per cent.

The post EPFO increased Interest Rate: Good news for PF Account Holders! Interest on PF has increased, know the new rate first appeared on Rightsofemployees.com.

The interest rate that was fixed for the last financial year i.e. 2021-22 was the lowest in 43 years. Last year, the interest rate on PF was reduced from 8.5 per cent to 8.1 per cent. There was no change in the rate of interest of PF in the financial year 2020-21. Just a year before this, the interest rate was reduced from 8.65 per cent to 8.5 per cent in 2019-20.

In March 2022, the CBDT i.e. Central Board of Trustees had recommended an interest rate of 8.1 per cent for over 6 crore active subscribers of EPFO ​​for the financial year 2021-22, leaving an estimated surplus of Rs 450 crore. According to sources, EPFO ​​can retain the current interest rate of 8.1 per cent. This can be done keeping in mind the potential for higher returns in equity investments.

The post PF account holders: Big news! PF interest rates for FY23 will be decided on this date first appeared on Rightsofemployees.com.

For the personnel who retired before September, 2014, the last date of this scheme was earlier March 3, 2023. The Ministry of Labor said, ‘Now on the demand of the union of workers / employers, the Central Board of Trustees has decided to extend the last date for receiving applications from such workers to May 3, 2023.’

Last date extended till 3rd May

Now you can apply till 3rd May through Unified Members Portal of EPFO. The Supreme Court, in an order issued on November 4, 2022, had said that EPFO ​​will have to give 4 months time to all eligible members to opt for higher pension. This period was ending on 3 March. But there was a continuous demand from the employees to increase it. Now it has been extended till 3 May.

How to apply for more pension

To take advantage of the scheme, employees will have to go to the nearest EPFO ​​office. There you will have to fill the application along with the required documents. At present, a limit of Rs 15,000 per month has been fixed for contribution to EPS. Even if your basic salary is Rs 50,000, your EPS contribution is Rs 1,250 based on a salary of Rs 15,000.

The post Good news for PF account holders, now they will get more pension; Apply by this date first appeared on Rightsofemployees.com.

Government also wants people to make full use of this account and people also want that they should make full use of this account. In the eyes of the people, it is the most interest-paying account, while in the eyes of the government, it remains a medium to fulfill the social responsibility. Holi is on March 8 and 6.5 crore account holders linked to PF are expected to get a gift from the government, but the wait is getting longer and now clouds of uncertainty have engulfed.

What is the whole matter

PF account holders are getting scared. The interest of 21-22 has not yet been paid by the EPFO ​​department while the year of 22-23 is also going to be completed. It is being said that whatever multiplication should have been done till March 31, 22 would have been done, but no one is giving the exact answer as to why the interest was not added. The government has also been asked questions about this. It is being said by the government that this is the work of the department and the department does this work with complete independence. The government has no role in this.

What do the formulas say

At the same time, experts say that the government had announced in Budget 2021 that if more than Rs 2.5 lakh is deposited in the PF account annually, then tax will be payable on the interest earned. At the same time, the limit for government employees has been increased to Rs 5 lakh annually. Now it is being told that for some such changes, changes are being made in the software of EPFO ​​and its testing is going on, due to which interest transfer is not being done yet. Experts also say that the work of change in this software started late and due to the time taken in the work, it has been delayed.

What does EPFO ​​say on delay

At the same time, when the government officials of the EPFO ​​department are asked about this, then they too are unable to give a clear answer. They also do not have any concrete information that till when people will get money in their account. On the other hand, the patience of the account holders is breaking.

All kinds of questions have gone home in his mind and the answer is not being found anywhere. Explain that on March 12, 2022, a recommendation was made by the EPFO ​​department to pay interest at the rate of 8.10 percent, which was approved by the Finance Ministry in June 2022. Please tell that this interest rate was fixed at 8.5 percent for 20-21.

Till when interest can be received

It is now believed that PF account holders can get interest from the government till the end of February before Holi. Still this hope is tied. On behalf of EPFO, interest can be transferred to the account of PF account holders on their deposits. Earlier it was believed that this amount would come into the account in the month of December but it did not happen.

After this, it was said that this work would be completed with the budget, but due to some reasons it could not be done. But now the date of Holi is awaited. People believe that along with the announcement of dearness allowance given to government employees, EPFO ​​can also announce to add interest to the account.

PF interest rate

Explain that in 2020-21, the interest rates on PF were announced at 8.5 percent. But this money was deposited in the account in December. That is, despite the announcement in March, money was added to the account in December. At the same time, in 2021-22, the rate of interest was declared by the government at 8.10 percent, but the money has not yet been deposited in the account.

New announcement in the new budget

It is notable that the government has recently changed some rules related to PF account in the announcement in budget 2023. In the Union Budget 2023, the Finance Minister has announced changes in the rules for withdrawal of Employees’ Provident Fund. Now, if for some reason you have to withdraw money from your PF account before a period of 5 years and PAN card is not linked, then in such a situation, TDS will have to be paid at 20 per cent instead of 30 per cent. These new rules will be applicable from 1 April 2023.

The post PF Interest Rate Deposit: The biggest update for PF account holders related to their account, read full details here first appeared on Rightsofemployees.com.

An ET report quoting people related to the matter said that the government may keep the interest rate on PF deposits around 8 per cent for the financial year 2022-23, which is almost equal to the previous financial year. It has been said that work is being done on the earnings of the Employees’ Provident Fund Organization (EPFO).

CBT meeting within a month

According to reports, the EPFO’s Central Board of Trustees (CBT) is expected to meet at the end of this month or in early March to decide on the interest rate. After this, on the basis of the earnings of 2022-23, it will be recommended by the Finance Investment and Audit Committee.

The interest rate had reached the lowest level in 4 decades for 2021-22. For the financial year 2021-22, the government had approved the lowest interest rate of 8.1 percent on EPF deposits in 4 decades. The 8.1 per cent interest rate on EPF was the lowest since 1977-78. The interest rate of 8.5 per cent on EPF deposits for the financial year 2020-21 was fixed by the Central Board of Trustees in March 2021.

What is CBT

CBT is a tripartite body of EPFO ​​consisting of representatives of Government, Employees and Employers and the decision of CBT is binding on EPFO. It is headed by the Labor Minister.

The post PF Interest Credit: Big news for 6.5 crore account holders! Interest for 2022-23 will be decided soon, how much will be available now? first appeared on Rightsofemployees.com.

The government has also presented the budget 2023 but no official announcement has been made regarding the transfer of interest money. Till now the interest money of PF of the employees has not come in the EPF account. Many subscribers are asking EPFO ​​on Twitter to transfer interest to them. If media reports are to be believed then the interest money on PF can come at the end of February i.e. before Holi.

Interest money did not come on EPF

If we look at the record before this, last time the interest money came around Diwali in 2021, but this time even after the year 2022, the interest money of the previous year has not come yet.

When will interest money come on pf

EPFO can transfer interest money on PF by the end of February. It is believed that the employees may get good news before Holi. Interest money has not come in the PF account, due to which people are asking questions on the official Twitter account of EPFO ​​that when will their PF money come.

why is there delay

The PF account holder hopes that the Modi government will soon transfer the interest money to their PF account. Actually, interest money on PF is received after a very long process, due to which there is delay. All 6 crore PF account holders do not get interest money at once. This time the account holders have to get interest on PF at the rate of 8.1 percent.

The post EPF Interest Credit: Date confirm…! Government will transfer pf interest money on this day, know the details first appeared on Rightsofemployees.com.

Many users have complained about the non-availability of e-passbook facility of EPFO ​​on social media platforms.

One user wrote on Twitter, “As usual, EPFO ​​website (passbook) is not working. Tried with all three different browsers. This user also tagged the Twitter handle of the Ministry of Labour. Apart from this, another user wrote that the EPFO ​​passbook portal is down for the last 7 days.

EPFO told, when the service will start However, EPFO ​​has flashed a message on its website that the facility of e-passbook will be available from 5 pm today. Meanwhile, according to the circular dated December 29, 2022 of the Employees’ Provident Fund Organization (EPFO), the Central Government has directed to implement the instructions given in the order of the Supreme Court.

Explain that the court has abolished the limit of monthly salary of Rs 15,000 for joining the pension fund. In the amendment of the year 2014, the limit of maximum pensionable salary (including basic pay and dearness allowance) was fixed at Rs. 15,000 per month and before amendment the maximum pensionable salary was Rs. 6,500 per month.

6 months time given to join the pension scheme The Supreme Court termed the Employee Pension (Amendment) Scheme of the year 2014 as “legal and valid”. Giving relief to many employees, the court said that those employees who have not yet exercised the option to join the Employees’ Pension Scheme, should be given another 6 months to do so.

In this, all EPS members were given six months time from September 1, 2014, to opt for the revised scheme. Later, in its order, the court had given four months more time to eligible subscribers to opt for higher pension under EPS-95. The court had also done away with the requirement of employee contribution of 1.16 per cent of salary exceeding Rs 15,000 per month in the 2014 amendment.

The post EPFO Alert: Big news! This service of EPFO ​​has stopped, PF account holders are facing problems, know when it will start first appeared on Rightsofemployees.com.

At the same time, the government also encourages people to save. In this sequence, many schemes are being run by the government for many years. There is also a scheme EPF in these. This scheme is being run by the Central Government for the employed people.

However, now in the name of this scheme, many thugs are also cheating people. EPFO Actually, on the basis of many schemes of the government, the work of cheating people is being done through fraudsters. On the other hand, thugs bring people into their talks in such a way that they become victims of fraud and also get their financial losses done.

#EPFO never asks its members to share their personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or on social media.#amritmahotsav #alert #StaySafe #stayalert pic.twitter.com/yQAjVWzmqh

— EPFO (@socialepfo) December 11, 2022

At the same time, to avoid any kind of financial loss, EPFO ​​has issued a warning. PF Login In the past, many such cases have been seen in which thugs are executing incidents of cheating people in the name of EPFO. Regarding which now EPFO ​​has alerted the people and has asked to beware of these thugs. Along with this, it has been forbidden to send the wrongly demanded amount.

PF Account Balance

It has been said by tweeting from EPFO ​​that EPFO ​​never asks for personal information like Aadhaar, PAN, UAN, bank account or OTP etc. through phone, social media, WhatsApp etc. from its members. EPFO never asks to deposit any amount through WhatsApp, social media etc. for any service.

The post PF Account Holders: EPFO ​​issued alert before new year! Refused to deposit money in this way first appeared on Rightsofemployees.com.

Twitter user asked a question 

A Twitter user has written a tweet tagging EPFO, Ministry of Finance and PMO India, ‘EPFO has not yet paid the interest for the contribution of 2021-22. Stop this loot and give people their money. It is sad that even the opposition is silent on this. December has arrived. If you cannot pay interest, then stop taking money from the working class.

EPFO replied 

EPFO has given its answer on the tweet of a Twitter user named Nikumbh. EPFO has written in its reply, ‘Dear member, the process of depositing interest is going on and it will be reflected in your account soon. Interest will be paid in full as and when it is credited. There will be no loss of interest.

PF account holders have got a big relief from this answer of EPFO. Now it is expected that before the new year, interest money will come in the account of the account holders. Actually, the interest of PF passes through a long process, due to which there is a delay in the release of interest many times. The EPFO ​​trust fixes the rate of interest and sends its recommendation to the finance ministry. Funds are raised only after getting approval from there.

The post PF Interest: Big news for PF account holders, interest money will come on this day! EPFO tweeted information first appeared on Rightsofemployees.com.

Crores of people across the country work in the organized sector. A part of the salary of these people is deducted as PF and deposited in the account of Employees Provident Fund Organisation. The amount deposited in the EPFO ​​account is a great support for every salaried person, which he can use in bad times or after retirement. After completing the age of 60 years, the account holders get permission to withdraw all the money from the PF account. The government guarantees the money deposited in this account. In such a situation, it is a completely risk free investment.

To provide insurance facility to its employees, EPFO ​​also gives a benefit of Rs 7 lakh to the account holders under the Idli scheme. Now the question must be arising in your mind that what is the idli scheme. The full form of Idli is Employee Deposit Linked Scheme. Under this scheme, every account holder gets insurance of Rs 7 lakh. Now we tell you who get the benefit of this insurance and how it can be claimed.

Know what is EDLI scheme and who gets the benefits

Under the Employee Deposit Linked Insurance Scheme (EDLI Scheme), every PF account holder gets accident insurance of Rs 7 lakh. If a PF account holder dies unfortunately, then in such a situation his family can get an insurance claim of up to Rs 7 lakh. Under this scheme, a claim of 35 times the monthly salary of the employee or up to a maximum of Rs 7 lakh can be received. The legal heir or nominee gets the right to take advantage of this scheme. EPFO often advises its account holders to update the nominee so that there is no problem in getting money in case of an emergency. The purpose of this scheme is that it can provide financial assistance to the family members of any PF account holder in case of accidental death.

Why is it necessary to have a nominee?

EPFO ​​always advises to update the nominee so that in case of sudden death of an account holder, in such a situation, there is no problem in claiming the money lying in the PF and the EDLI scheme. Nominee can easily take advantage of EPF, EPS and EDLI schemes. In the absence of a nominee, the legal heir will first have to get the Succession Certificate made. Only after this he can claim this money. All this work takes a lot of time and trouble. In this case, always keep the nominee updated in the account.

The post EPFO Update: PF account holders are getting the benefit of Rs. 700000, apply like this first appeared on Rightsofemployees.com.

Subscribers can update KYC through EPFO’s online portal epfindia.gov.in. If your EPF account is not KYC compliant then EPFO ​​can reject the claim request of the subscribers. You can update your KYC information sitting at home through UAN (Universal Account Number) EPFO ​​(Employees Provident Fund Organization) portal. For this you will need UAN.

If KYC is updated then there is no problem in money transfer or withdrawal. In case of non-updation of KYC, claim requests will be rejected. If you have not submitted the KYC documents, then the EPF member will not get any SMS alert.

How to update KYC online

Step 1: First of all, you have to go to the EPFO ​​member portal.
Step 2: Now you have to login by entering your 12 digit UAN number, password and captcha code.
Step 3: After login, a new page will open. In which you will see Manage written.
Step 4: From here select the ‘KYC’ option.
Step 5: A new page will open with a list of different document types. Enter the document number, name as per the document and other details like IFSC in case of bank details and expiry date in case of passport and driving license.
Step 6: Now click on ‘Save’.
Step 7: The status of the KYC document will appear in the column ‘KYC Pending for Approval’.
Step 8: The ‘Digitally Approved KYC’ state will appear after the documents are verified by the employer. Also, SMS will be received on your registered mobile number.

These documents will come in handy

for KYC update Aadhar Number, Permanent Account Number (PAN), Bank Account Number, Passport, Driving License etc. will be useful.

Let us tell you that the Employees’ Provident Fund Organization has started the process of adding interest to the account of its account holders . EPFO gave this information by tweeting on 31 October. Responding to a user’s query, the organization said that the process of transferring interest has been started and soon the money will reach the beneficiaries’ account. Apart from this, EPFO ​​also said that no one will suffer any kind of loss in interest.

The post Big News for PF Account Holders! Update KYC in EPF account, otherwise interest money will stop – check process first appeared on Rightsofemployees.com.

There is good news for PF account holders. Employees’ Provident Fund Organization (EPFO) has started putting interest money in the account of 7 crore subscribers. The government is transferring the interest for the financial year 2022 to the account of EPF account holders. Let us tell you that this time the interest is getting at the rate of 8.1 percent.

How to calculate interest-

If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

1. Know the balance like this from Missed Call-

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here also it is necessary to have your UAN, PAN and Aadhaar linked.

2. Check balance online like this-

1. To do online balance check, log on to the EPFO ​​website, click on e-passbook at epfindia.gov.in.
2. Now on clicking on your e-passbook, a new page will come to passbook.epfindia.gov.in.
3. Now here you fill your username (UAN number), password and captcha
4. After filling all the details, you will come to a new page and here you will have to select the member ID.
5. Here you will get your EPF balance on the e-passbook.

The post EPFO: Good News! PF interest amount credited in the account of PF account holders, check immediately first appeared on Rightsofemployees.com.

The process of crediting interest is ongoing and it will get reflected into your account soon. Whenever the interest is credited, it will be paid in full. There will be no loss of interest.

— EPFO (@socialepfo) October 31, 2022

How to calculate interest

If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

1. Know the balance like this with Missed Call

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here also it is necessary to have your UAN, PAN and Aadhaar linked.

2. Check balance online like this

1. To do online balance check, log on to the EPFO ​​website, click on e-passbook at epfindia.gov.in.
2. Now on clicking on your e-passbook, a new page will come to passbook.epfindia.gov.in.
3. Now here you fill your username (UAN number), password and captcha
4. After filling all the details, you will come to a new page and here you will have to select the member ID.
5. Here you will get your EPF balance on the e-passbook.

3. How to Check Balance on UMANG App

1. For this, you open your UMANG App (Unified Mobile Application for New-age Governance) and click on EPFO.
2. Now on the other page, click on Employee-centric services.
3. Here you click on ‘View Passbook’. With this, you fill your UAN number and Password (OTP) number.
4. OTP will come on your registered mobile number. After this you can check your PF balance.

4. Check Balance Through SMS

– If your UAN number is registered with EPFO, then you can get your PF balance information through message.
For this you have to send EPFOHO to 7738299899.
After this you will get the information of PF through message.
Let us tell you that if you want information in Hindi language, then you have to send it by writing EPFOHO UAN.
– This service to know PF balance is available in English, Punjabi, Marathi, Hindi, Kannada, Telugu, Tamil, Malayalam and Bengali.
For PF balance, it is necessary that your UAN, bank account, PAN and Aadhaar (AADHAR) must be linked.

The post PF Interest Deposited: Good News of PF account holders, interest money deposited in the account, government tweeted information first appeared on Rightsofemployees.com.

At present, the Employees’ Provident Fund Fund (EPFO) allows subscribers to withdraw deposits from the Employees’ Provident Fund account only if there is less than six months of service left.

In the 232nd meeting of the Central Board of Trustees (CBT), the apex body of EPFO, on Monday, it was recommended to the government that by making some amendments in the EPS-95 scheme, the subscribers who are nearing retirement should be allowed to withdraw the amount deposited in the pension fund.

What happened –

According to the statement of the Ministry of Labor, the CBT has recommended to the government that members with less than six months of service should be given the facility of withdrawal from their EPS account. Apart from this, the Board of Trustees has also recommended proportionate pension benefits to the members who have been part of the scheme for more than 34 years.

This facility will help the pensioners to get more pension at the time of determination of retirement benefits. Apart from this, the 69th Annual Report on the functioning of the EPFO ​​for the financial year 2021-22 was also approved, which will be presented in the Parliament.

Relief to EPFO ​​subscribers-

In order to provide relief to the working people, the Employees’ Provident Fund Organization (EPFO) on October 31 decided to allow withdrawal of deposits in the Employees’ Pension Scheme 1995 (EPS-95) for those customers who have only less than six months. remaining service.

The Central Board of Trustees (CBT) of the retirement fund body, chaired by Union Labor Minister Bhupendra Yadav, in its 232nd meeting, recommended certain amendments in the EPS-95 scheme to the government, a Labor Ministry statement said. This will help the pensioners to get a good amount as pension at the time of determination of retirement benefits.

Investing in Exchange Traded Fund-

The board has also recommended Equitable Value Transfer calculation in cases of exemption or cancellation of exemption from EPS-95. Apart from this, the policy has also been approved for its investment in Exchange Traded Fund (ETF) units.

The Board also approved the inclusion of ETF units purchased during the calendar year 2018 period for capital gains to be included in income for computing the interest rate for 2022-23.

The post EPFO: Big news for PF account holders, EPFO changes made in EPF scheme, see here details first appeared on Rightsofemployees.com.

In the 232nd meeting of the Central Board of Trustees (CBT), the apex body of the EPFO, it was recommended to the government to make some amendments in the EPS-95 scheme for retirement. Subscribers who have reached close should be allowed to withdraw the amount deposited in the pension fund.

Recommendation to give proportionate pension benefits

According to the statement of the Labor Ministry, the CBT has recommended to the government that members with less than six months of service period should be given the facility of withdrawal from their EPS account. Apart from this, the Board of Trustees has also recommended proportionate pension benefits to the members who have been part of the scheme for more than 34 years. This facility will help the pensioners to get more pension at the time of determination of retirement benefits.

The Labor Ministry said that the Board of Trustees of EPFO ​​has also approved a redemption policy for investment in Exchange Traded Fund (ETF) units. Apart from this, the 69th annual report prepared on the functioning of EPFO ​​for the financial year 2021-22 was also approved, which will be presented in the Parliament.

The post EPS-95 Scheme: Great news for PF account holders! The government made this change in the EPS; you also know first appeared on Rightsofemployees.com.

EPFO Interest Rates Hike: Important news for PF account holders. The government has given a big statement regarding the increase in the interest rate on the PF account. Minister of State for Labor and Employment Rameshwar Teli has given a statement on any change in the interest rate on Employees’ Provident Fund (EPF) deposits for 2021-2022.

information given by the government

Actually, this question was asked to Rameshwar Teli whether the government is reconsidering increasing the rate of interest on Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate available on the PF account.

Higher interest than small savings schemes 

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this 

Rameshwar Teli has stated that the interest rate on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that the CBT and EPF have For 2021-22, 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time the interest on PF will be available at the rate of 8.10.

The post EPFO Interest Rates: Government will increase the interest rate on PF amount! check new rate immedately first appeared on Rightsofemployees.com.

 There is good news for PF account holders. 7 crore subscribers of Employees’ Provident Fund Organization ie EPFO ​​will get great news by the end of this month. The government is going to transfer the interest for the financial year 2022 to the account of EPF account holders. Let us tell you that this time interest will be available at the rate of 8.1 percent. It is being told that by the end of this month, interest money can be transferred to the account. This year’s interest is at the lowest level in 40 years.

How to calculate interest

If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

1. Know the balance like this with Missed Call

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here also it is necessary to have your UAN, PAN and Aadhaar linked.

2. Check balance online like this

1. To do online balance check, log on to the EPFO ​​website, click on e-passbook at epfindia.gov.in.
2. Now on clicking on your e-passbook, a new page will come to passbook.epfindia.gov.in.
3. Now here you fill your username (UAN number), password and captcha
4. After filling all the details, you will come to a new page and here you will have to select the member ID.
5. Here you will get your EPF balance on the e-passbook.

3. How to Check Balance on UMANG App

1. For this, you open your UMANG App (Unified Mobile Application for New-age Governance) and click on EPFO.
2. Now on the other page, click on Employee-centric services.
3. Here you click on ‘View Passbook’. With this, you fill your UAN number and Password (OTP) number.
4. OTP will come on your registered mobile number. After this you can check your PF balance.

4. Check Balance Through SMS

– If your UAN number is registered with EPFO, then you can get your PF balance information through message.
For this you have to send EPFOHO to 7738299899.
After this you will get the information of PF through message.
Let us tell you that if you want information in Hindi language, then you have to send it by writing EPFOHO UAN.
– This service to know PF balance is available in English, Punjabi, Marathi, Hindi, Kannada, Telugu, Tamil, Malayalam and Bengali.
For PF balance, it is necessary that your UAN, bank account, PAN and Aadhaar (AADHAR) must be linked.

The post EPFO Update: Good news! Government will deposit Rs 81,000 in your account during the festive season, date fixed! check like this first appeared on Rightsofemployees.com.

EPF Interest: This year on Diwali, employed people can get great news. Actually, the government can soon transfer the interest amount to the account of PF account holders. For this, EPFO ​​can soon announce to transfer interest for 2021-22 to the accounts of more than 6.5 crore customers. Explain that in 2021-22, EPFO ​​will deposit interest at the rate of 8.1 percent in the account of its members. This amount will be directly deposited in your PF account. 

This is how the calculation of interest happens: 
Explain that there is a contribution of both the employee and the employer in the PF account. In this, 24% of the basic and Dearness Allowance (DA) together are deposited. But interest is not earned on the entire payment. Your PF gets deposited every month, while interest is accrued on an annual basis. According to the EPFO ​​rules, if there is any withdrawal on the last date of the financial year, then 12 months interest is deducted after deducting it. EPFO always takes the opening and closing balance of the account and the monthly running balance is added accordingly. 

If 10 lakhs are deposited in the account, then you will get this amount: 
For the year 2021-22, money will be given on EPF at 8.1 interest rate. Accordingly, interest at the rate of 8.1 percent will be transferred on the amount deposited in the account of any PF account holders. Suppose you have one lakh rupees deposited in your PF account, then at the rate of 8.1 percent, you will get 8,100 rupees as interest annually. On the other hand, if the amount deposited in your PF account is 10 lakh rupees, then 81 thousand rupees will be transferred to your account as interest.

Check the amount deposited in your account like this: 
– To check the amount deposited in your PF account, first of all go to the website of EPFO. 
– Here in Our Services dropdown, select ‘For Employees For Employees’. 
Then click on Member Passbook. Log in here by submitting your UAN number and password. 
Now select your PF account. As soon as you open it, you will see the balance in front of you.  
Apart from this, you can easily get the balance information in the account by sending a message. 
For this, you have to type EPFOHO UAN ENG from your registered mobile number and send it to 7738299899. The last three characters of the message are for the language. If you want information in Hindi then you can send HIN.

You can also know the balance by missed call: 
For this, you have to give a missed call to the phone number of EPFO ​​​​from your registered mobile number. This service can be availed only when KYC is updated from your UAN. If KYC is updated, you can check the balance by missed call in the two steps mentioned below.
Give a missed call to 011-22901406 from your registered mobile number.
After making a missed call, you will get an SMS with your PF details, which will have complete balance details. 

The post EPFO: PF account holders can get good news on Diwali, interest money will come in the account first appeared on Rightsofemployees.com.

Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

The post Big News: EPFO employees will get benefit of one lakh rupees, check information immediately first appeared on Rightsofemployees.com.

Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

The post Good News for EPFO employees : EPFO employees will get benefit of one lakh ruapees, check information immediately first appeared on Rightsofemployees.com.

The interest amount is going to be transferred soon in the account of PF account holders. EPFO may soon announce the transfer of interest for 2021-22 to the accounts of more than 6.5 crore subscribers. This time the Employees’ Provident Fund Organization (EPFO) will deposit interest at the rate of 8.1 percent in the account of its members.

The amount of which will be directly credited to your PF account. The decision on interest was taken in the last meeting of the Central Board of Trustee of EPFO. After this, the Finance Ministry has also given its consent on this.

Interest is not available on the entire money

Let us tell you that there is a contribution of both the employee and the employer in the Provident Fund account. In this, 24 percent of the basic and dearness allowance is deposited. But you will be surprised to know that the organization does not pay interest on the entire payment. Let us know on which amount the Provident Fund Organization pays the interest amount.

This is how interest is calculated

Your PF gets deposited every month, while the interest is credited on an annual basis. But let us tell you that the calculation of interest is done on a monthly basis. According to the rules of EPFO, if there is any withdrawal on the last date of the financial year, then the interest for 12 months is deducted. The organization always takes the opening and closing balance of the account and accordingly the monthly running balance is added and the rate of interest is multiplied by / 1200.

Check interest with this easy process

You do not need to worry to check interest money in EPFO. There are several ways to check whether the interest amount has been credited to your account. By the way, information about transfer of interest from EPFO ​​​​is given to every subscriber by messaging. But, you can easily get the balance information in the account by sending a message yourself. You just have to type ‘EPFOHO UAN ENG’ on your mobile phone and send it to 7738299899. The last three characters of the message are for the language.

The post EPF Interest Calculation: Good News! PF interest money will come in the account on this day, check this way first appeared on Rightsofemployees.com.

The interest amount is going to be transferred soon in the account of PF account holders. EPFO may soon announce the transfer of interest for 2021-22 to the accounts of more than 6.5 crore subscribers. This time the Employees’ Provident Fund Organization (EPFO) will deposit interest at the rate of 8.1 percent in the account of its members. The amount of which will be directly credited to your PF account. The decision on interest was taken in the last meeting of the Central Board of Trustee of EPFO. After this, the Finance Ministry has also given its consent on this. 

Interest is not available on the entire money

Let us tell you that there is a contribution of both the employee and the employer in the Provident Fund account. In this, 24 percent of the basic and dearness allowance together are deposited. But you will be surprised to know that the organization does not pay interest on the entire payment. Let us know on which amount the Provident Fund Organization pays the interest amount.   

This is how interest is calculated

Your PF gets deposited every month, while the interest is credited on an annual basis. But let us tell you that the calculation of interest is done on a monthly basis. According to the rules of EPFO, if there is any withdrawal on the last date of the financial year, then the interest for 12 months is deducted. The organization always takes the opening and closing balance of the account and accordingly the monthly running balance is added and the rate of interest is multiplied by / 1200.

Check interest with this easy process

You do not need to worry to check interest money in EPFO. There are several ways to check whether the interest amount has been credited to your account. By the way, information about transfer of interest from EPFO ​​​​is given to every subscriber by messaging. But, you can easily get the balance information in the account by sending a message yourself. You just have to type ‘EPFOHO UAN ENG’ on your mobile phone and send it to 7738299899. The last three characters of the message are for the language.

The post Good news for PF account holders on Diwali! Interest money will come in the account, check first appeared on Rightsofemployees.com.

Not only can you take a loan from the amount of these PF, but additional bonus is also given to you. It is being told that this Diwali also some employees will be given bonus. Those who have completed departmental formality.

According to the information, the account holders whose basic salary is up to 5 thousand rupees. They will get an additional bonus of up to Rs 30,000 on retirement. At the same time, those whose basic salary is more than 10 thousand, they will be given additional bonus up to 50 thousand rupees.

Here are the Terms and Conditions

According to the rules issued by the Provident Fund Organization, if an employee faces any physical problem before completing 20 years of service, such employees are given additional bonus on retirement. Additional bonus is given to such employees on retirement.

It is said that the employees who are going to retire on this Diwali. According to the terms and conditions issued to them, they are entitled to bonus. is being told. That there are thousands of such employees, who are going to get the bonus amount before Diwali. However, no official announcement has been made about it yet.

The post Great news for PF account holders! 50 thousand rupees will come directly in the account first appeared on Rightsofemployees.com.

Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

The post Good News: EPFO employees will get benefit of one lakh rupees, check information immediately first appeared on Rightsofemployees.com.

For the first time in forty years, the lowest interest is being paid, due to which there is a lot of frustration among the employees. The EPFO ​​has not officially announced to send interest money to the account of employees, but in all media reports, the claim is being made till October 15.

For information, let us tell you that last year people had to wait 6 to 8 months for interest. Last year the atmosphere was different due to Kovid, this year the government will not delay. In media reports, interest money can be transferred to the account by the end of this month. This year’s interest is at the lowest level in 40 years.

Accordingly, interest money will be received

If you have Rs 10 lakh in your PF account, you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then you will get Rs 40,500 as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come

Know balance from missed call

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here it is also necessary to have your UAN, PAN and Aadhaar linked. In this way you will get the information about the balance soon.

The post EPFO: Good News PF account holders, Rs 64,000 of interest will come on this day, know deails first appeared on Rightsofemployees.com.

It has been decided to pay 8.1 percent interest to PF employees for the financial year 2020-21, which is the lowest in the last forty years. Earlier, 8.5 percent interest was given in the financial year 2019-20. The government has not yet officially announced the transfer of the installment amount, but in many media reports, till September 30, the claim is being made on a large scale.

PF account holders will get so many thousand rupees

EPFO, which deducts PF, will release a hefty amount for the account holders by 30 September. In such a situation, the question arises that how much money will come in the account of PF employees, for which you need to read the entire article carefully. If you have Rs 6 lakh lying in your account at 8.1 percent interest, then you will easily get Rs 48,000. Earlier in the financial year 2019-20 also 8.5 percent interest amount was released, which benefited about 6 crore employees.

just check your account balance

• First of all you have to go to epfindia.gov.in.
• Now you have to click on the option of Click Here to know your EPF Balance.
• Now you have to be redirected to the page of epfoservices.in/epfo/.
• Now you have to click on the option of Member Balance Information.
• Now enter your PF account number and registered mobile number here.
• Now select your state.
• After doing this, click on the link of the EPFO ​​website of your state.
  Now click on submit option.

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Due to this, in the last financial year also, the employees got the benefit of 8.5 percent interest. EPFO, which cuts PF, has not yet announced the date of transfer of interest, but this claim is being made in all media reports. According to the claims, the interest amount will be sent to the account by September 30.

Employees will get so many thousand rupees

EPFO, which deducts PF, will send money to the account of employees by 30 September. In such a situation, the question arises that how much money will come in the account of PF employees, for which you will need to read the entire article carefully. According to 8.1 percent interest, if Rs 7 lakh is deposited in your account, then an amount of Rs 56,000 will be added. You will get the amount. Earlier in the financial year 2019-20 also 8.5 percent interest amount was released, which benefited about 6 crore employees.

Know how to check

• First of all you have to go to epfindia.gov.in.
• Now you have to click on the option of Click Here to know your EPF Balance.
• Now you have to be redirected to the page of epfoservices.in/epfo/.
• Now you have to click on the option of Member Balance Information.
• Now enter your PF account number and registered mobile number here.
• Now select your state.
• After doing this, click on the link of the EPFO ​​website of your state.
  Now click on submit option.

The post Good News PF account holders: Interest money will be transferred in the account on this day, check detail Quickly first appeared on Rightsofemployees.com.

Money can be transferred to the account soon:

Most of the employees of the country have their own PF account in which they contribute every month. If your PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, the PF account of more than 6 crore employees is present across the country.

Who will get this benefit:

Employees’ Provident Fund Organization (EPFO) KK will transfer PF interest money to the employees’ account very soon. In such a situation, those employees whose PF account has Rs 5 lakh deposited, they can get 40 thousand rupees as interest. According to media reports, the interest amount will be transferred to the PF account soon.

Check PF account balance sitting at home:

• To check the balance of PF account, you have to visit the website epfindia.gov.in.
• Then click on the option ‘Click here to know your EPF balance’.
• After this, through the redirect link, you have to go to the page of epfoservices.in/epfo/.
• – There you have to click on the option of ‘member balance information’.
• Then the PF account number and registered mobile number have to be entered there.
• After this, after selecting your state, you have to click on the website link of your state’s EPFO ​​office.
• Finally, click on the option of ‘Submit’.
• After completing this process, you will be able to see your PF account balance on the screen.

The post PF Interest Credited ! Good News: Employees will get Rs, 40,000 interest in PF account, know its full details first appeared on Rightsofemployees.com.

This is the lowest interest rate in the last 40 years. Earlier in 1977-78, EPFO ​​had given 8 per cent interest and thereafter it was 8.25 per cent or more.

12 per cent deduction on the salary of an employee is made for the EPF account. If we talk about the employer, 8.33 percent of the deduction made by him goes to EPS (Employees Pension Scheme), while the remaining 3.67 percent goes to EPF.

If your basic salary is 25 thousand rupees, then the total contribution of both the company and the employee in the EPF every month will be around Rs 3918. At the same time, you will get Rs 2082 every month in the EPS account.

Lowest interest rate in 40 years

EPFO has announced an interest of 8.1 percent for the financial year 2022. Finance Minister Nirmala Sitharaman had defended the cut in the interest rate on PF, saying that the EPFO ​​has a central board which decides what rate is to be given to them.

He hasn’t changed it for a while. But now they have reduced it from 8.4 per cent to 8.1 per cent. In the financial year 2019-2020, 8.5% interest was given. Interest was also received at the rate of 8.5% in 2020-2021, while 8.65% in the financial year 2018-19, 8.55% in 2017-18, 8.65% in 2016-17 and 8.8% in the financial year 2015-16. was.

check balance online

You do not need to go anywhere to know your PF account balance. You can check your balance sitting at home. For this, you can know your balance by visiting the official website of EPFO, epfindia.gov.in.

After visiting this site, click on e-passbook. After clicking on it, you will have to fill your UAN number, password and captcha. By doing this, you will see the information related to the PF account. Here you will see the member ID. If you select it, then you will start seeing your PF balance on the E-Passbook.

missed call and sms

You have to make a missed call on 011-22901406 from the number linked to your PF account. Immediately after making a missed call, you will receive a message on your register number, in which PF balance information will be given. You can check PF account balance through SMS.

For this your UAN number should be registered with EPFO. First of all send EPFOHO UAN and SMS to 7738299899 from the registered mobile number. You will have to select the option for the balance information in the language in which it is available. For example, for Hindi, you will have to message by writing EPFOHO UAN HIN.

Check balance through app

For this, first you have to download the UMANG app. After that register your phone number and login to the app.

Go to ‘Service Directory’ by going to the menu given in the top left corner. Here search for EPFO ​​option and click on it. After going to View Passbook here, check the balance through your UAN number and OTP.

The post Good news for 7 crore PF account holders ! Lakhs of rupees will come in the account of PF account holders, check details Quickly first appeared on Rightsofemployees.com.

Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

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Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

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information provided by the government

Actually, this question was asked to Rameshwar Teli in the House whether the government is considering increasing the interest rate on Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate on the PF account.

Higher interest than small savings schemes

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher as compared to other comparable schemes like General Provident Fund (7.10 per cent), Senior Citizen Savings Scheme (7.40 per cent) and Sukanya Samriddhi Account Scheme (7.60 per cent). . That is, according to Rameshwar Teli, the interest on PF from small savings schemes is still high, so the eligible government will not consider the increase in interest rates. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has stated that the rate of interest on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that CBT and EPF have for 2021-22. , 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time PF will get interest at the rate of 8.10.

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Due to this, account holders can become victims of big frauds. If the information about the EPF account is in the hands of fraudsters, then they can steal money from your account.

EPFO has said that EPFO ​​never asks for Aadhaar, PAN, UAN, bank details information from its members.

If someone asks for such information on phone or social media, then be careful and never leak it. Do not respond to such fraudulent phone calls or reply to any such messages.

EPFO has issued an alert for all its users and wrote in a tweet, ‘Never to share personal details like Aadhaar, PAN, UAN, Bank Account or OTP from its members on phone or social media from its members. says.

EPFO further states, EPFO ​​never asks to deposit any amount through WhatsApp, social media etc. for any service.

Phishing Online Fraud Significantly, people’s money is deposited in the PF account, which people deposit for retirement expenses. Fraudsters are well aware that here they will get a huge amount in one stroke, so they attack the account through phishing attack.

Actually, phishing is a part of online fraud in which the depositor is duped, the necessary information related to the account is obtained from them and then the account is cleared.

Never share this information

PF account holders do not accidentally share PAN number, Aadhaar number, UAN and your PF account number in the necessary information included in the account. Because these are such information, due to which leaking of your account can be empty.

Such frauds are often seen in people leaving one job and joining elsewhere. In such a situation, these people must register a complaint with the police against any phishing call or message in which your personal details are being sought.

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Money can be transferred to the account soon:

Most of the employees of the country have their own PF account in which they contribute every month. If your PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, the PF account of more than 6 crore employees is present across the country.

Who will get this benefit:

Employees’ Provident Fund Organization (EPFO) KK will transfer PF interest money to the employees’ account very soon. In such a situation, those employees whose PF account has Rs 5 lakh deposited, they can get 40 thousand rupees as interest. According to media reports, the interest amount will be transferred to the PF account soon.

Check PF account balance sitting at home:

• To check the balance of PF account, you have to visit the website epfindia.gov.in.
• Then click on the option ‘Click here to know your EPF balance’.
• After this, through the redirect link, you have to go to the page of epfoservices.in/epfo/.
• – There you have to click on the option of ‘member balance information’.
• Then the PF account number and registered mobile number have to be entered there.
• After this, after selecting your state, you have to click on the website link of your state’s EPFO ​​office.
• Finally, click on the option of ‘Submit’.
• After completing this process, you will be able to see your PF account balance on the screen.

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After the two-day CBT meeting that concluded on Saturday, Labor Minister, Bhupendra Yadav introduced the calculator, for calculation of PF account holders, EPF pension holders and EDLI insurance, same as for “Face Authentication” facility for old age pensioners. Under this, the facility of submission of Digital Life Certificate through mobile application has been provided from home. Let us know in detail about these EPFO ​​Good News.

EPF Pension Calculator

Labor Minister Shri Bhupendra Yadav launched Pension Calculator, which provides online facility to the pensioner and family members to calculate pension linked benefits, through this calculator it can be predicted, retirement How much pension will I get after that? And those who are pensioners of EPFO ​​will also be able to calculate their pension (EPF Pension Calculation) through Pension Calculator. for which they are eligible.

This pension calculator will be available on the website of EPFO, which will be accessible by everyone. In future, through this calculator, family pension, old age pension calculation etc. will also be added.

EPFO Good News: EDLI Calculator launched.

After the conclusion of the meeting, Labor Minister Shri Bhupendra Yadav launched the EDLI Calculator, which provides online facility to PF members to calculate the death linked insurance benefit, which can be obtained from the family members of the EDLI insured. You will be able to know how much amount will be received under the insurance. for which he deserves.

Also, the employees will be able to estimate according to the present situation, how much insurance amount they will leave for their family due to any accident. Through both these calculators, there will be transparency in PF account holders and pensioners.

Now the life certificate will be submitted sitting at home (Digital Life Certificate)
Shri Bhupendra Yadav also started the facility of Face Authentication Technology with the help of UIDAI Portal for Digital Life Certificate (Jeevan Pramaan Patra) to help those pensioners who have lost their bio-metrics due to old age. (Fingerprint and Iris) face difficulties in obtaining.

This will benefit such old pensioners who earlier used to deposit their life certificate by visiting the bank, post office or EPFO ​​office. Or those whose biometrics such as fingerprints of hands, biometrics could not be obtained from eyes, now they will also be able to submit Digital Life Certificate, sitting at home, with the facility of face authentication technology. For this, they have to download RD and Face application in their mobile.

Training will be given to 14 thousand employees.

To develop the officers and employees of EPFO ​​into a competent, responsible and future ready worker, under the training policy of EPFO. Under the training policy, 14,000 employees will be trained every year for eight days and for this 3 percent of the salary budget will be spent. Due to which trained employees will be able to run PF account holders and all the services of PF in a proper way.

The post EPFO Good News: Three good news for PF account holders and pensioners first appeared on Rightsofemployees.com.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal New rule : Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

Interest money is expected to arrive in the account of PF employees by July 30, due to which a lot of enthusiasm is being seen among the people. The government has announced to give 8.1 percent interest money for the financial year 2020-21, which is believed to be the lowest in forty years.

Earlier, 8.5 percent interest was announced. EPFO, the PF deducting body, has not yet officially announced the interest, but this claim is being made in all the media reports.

• so much money will come in the account

The Central Government has decided to send 8.1 percent interest to the account of PF employees. This will benefit more than 6 crore employees. Accordingly, if Rs 10 lakh is lying in your account, then interest of Rs 81,000 will be available.

• Check amount like this

You can know how much money is in PF account from your mobile sitting at home. You have to send EPFO ​​UAN LAN to 7738299899 from the mobile number registered with EPFO. If you need information in English, you should type ENG instead of LAN. Thus HIN is written in Hindi and TIM in Tamil.

• Check money with this app

Download UMANG App from Play Store on your Smartphone.

Log in to the app by registering your phone number.

Go to the Services directory in the top left corner menu.

Here click on EPFO ​​option. After going to View Passbook, check your UN number and balance through OTP. With this you can easily access your PF account.

The post EPFO Amount Credited: 81,000 rupees will be credited in the account of PF employees on this day, know here immediately first appeared on Rightsofemployees.com.

Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘member balance information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

The post EPFO Employees Good News : Employees are going to get good news soon, Rs 40,000 will be transferred to the account! first appeared on Rightsofemployees.com.

For information, let us tell you that the Central Government is going to transfer the PF interest money for the financial year 2022 to the account of the account holders. This time the employees are getting interest at the rate of 8.1%. EPFO has calculated the interest to be received in the PF account in the financial year 2022, after which it will soon be transferred to the accounts of the account holders.

• Money transfer will be done on this day

Talking about last year, EPFO ​​subscriber had to wait for 8 months for interest. But this year the government will not delay and if media reports are to be believed, then this time till August 30, the interest money will be transferred to the account of the employees.

• Get money like this

Additional suppose, that if you have 10 lakh rupees in your account, then you will get 81,000 rupees as interest. On the other hand, if you have Rs 7 lakh in your PF account, then you will get Rs 56,700 as interest. If you have Rs 5 lakh in your PF account, you will get Rs 40,500 as interest. Similarly, if you have Rs 1 lakh in your account, then you will get Rs 8,100 as PF interest.

• Check balance like this

You can also check your EPFO ​​employee balance online for which you need to log on to the official website of EPFO, epfindia.gov.in.

Now you have to click on Passbook, after which a new page will open in front of you. Now here you have to fill your username and password and capture.

After filling all the information correctly, a new page will open in front of you and here you will have to select the member ID. After that, one will see here by going to his EPFO ​​balance on the passbook.

Also you can check your balance from mobile number but here is the condition that your mobile number should be registered, you should send EPFO ​​UAN LN from your registered mobile number to 7738299899 after which you will get the answer in reply. You can check your balance from it.

Along with SMS, you can also check your balance by missed call. If your Aadhar card and PAN card are linked, you can also check your balance by calling 011-22901406.

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EPFO not only provides pension and insurance facility to its account holders, but also works to give bonus. EPFO works to give additional bonus to PF account holders. The amount of this additional bonus can be up to 50 thousand rupees. Although some rules have been set to get it, it will be necessary to fulfill them. Let us know how you can get 50 thousand rupees of bonus.

How to get Bonus

The amount of Additional Bonus is given by EPFO ​​to any employee through loyalty cum life benefit. PF account holders who have deposited money in their account for the last 20 years get its benefit. Let us tell you that the amount is fixed according to the basic salary. PF account holders whose basic salary is up to 5 thousand rupees. 

They get an additional bonus of up to Rs 30,000 on retirement. So at the same time, the salaried people who get basic salary from 5 thousand to 10 thousand get additional bonus of up to 40 thousand rupees. At the same time, the EPFO ​​department gives an additional bonus of 50 thousand to those whose basic salary is more than 10 thousand rupees.

What is the new rule

If an employee becomes completely disabled before 20 years, then they are exempted from this condition. Additional bonus is given to such employees on retirement. However, earlier the additional bonus was fixed according to the basic salary. EPFO still follows that rule.

The post PF account holders will get additional bonus of Rs 50000, follow this method first appeared on Rightsofemployees.com.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

no motion to reconsider 

Rameshwar Teli was asked in the Rajya Sabha whether the government is reconsidering increasing the interest rate on Employees’ Provident Fund deposits. Giving a written reply to this, the Union Minister clarified that no proposal has come to reconsider the interest rate. That is, there will be no increase in the interest rate available on PF accounts. 

Now getting so much interest (interest on PF)

Rameshwar Teli (Minister of State for Labor and Employment) also said that the interest rate of EPF is applicable to other schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya. More than the Sukanya Samriddhi Account Scheme (7.60 percent). According to Rameshwar Teli, the rate of interest on pf from small savings schemes is still high. In such a situation, the eligible government will not consider the interest rate hike. Let us tell you that it has been approved to give 8.10 percent interest on EPF.

CBT had demanded such interest rate

The Minister of State for Labor and Employment has said that the interest rate on PF depends on the income received by the EPF from its investment and such income is distributed only according to the EPF Scheme, 1952. Also said that CBT and EPF had recommended 8.10 percent interest rate for 2021-22, which has been approved by the government.

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