In a Diwali gesture, the Employees Provident Fund Organization (EPFO) has initiated the transfer of interest rates for the financial year 2022-23 to account holders. Notably, the EPFO is offering an 8.15 percent interest rate for this fiscal year.
Decision-Making Authority
EPFO’s interest rates are annually determined by the Central Board of Trustees (CBT) and the Finance Ministry. For the current fiscal year, the government announced the interest rates in June 2023, and now the interest amount is being disbursed to the accounts of PF account holders.
EPFO’s Communication
Responding to inquiries on Twitter, EPFO assured users that the process of transferring interest to accounts has commenced. EPFO emphasized that account holders will receive the entire interest amount without any deductions this year. The organization also urged employees to remain patient during this process.
Checking PF Balance
For PF account holders keen on checking their balance, various convenient methods are available. This includes sending a message to 7738299899 from the registered mobile number, making a missed call to 011-22901406, or using the EPFO portal and Umang app. The Umang app allows users to download EPFO passbooks after a simple OTP verification process.
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