This news may be special if you work in an organized company. Let us tell you that EPFO has given a huge gift to crores of employees. The CBT meeting recommended paying 8.25 per cent interest on EPF deposits for the financial year.
This is the highest interest rate in the last 3 years. Last year, 8.15 per cent interest was given on PF, and from 2021 to 2022, 8.1 per cent interest was shown. Elections are going to be held in the country in April and May. In such a situation, it has been decided to increase the interest rate on PF.
The Finance Ministry has yet to receive approval after the recommendation. Therefore, it will be notified after getting approval from the Financial Department. After this, interest will start coming to the subscribers’ accounts.
EPFO’s Decision Will Lead To More Earnings
For information, let us tell you that in March 2022, EPFO reduced the interest rates for 2021 to 2022 to 8.1 per cent, the lowest. PM Modi has decided to increase the interest on PF accounts.
This will strengthen the employees considerably. EPFO’s income has increased by 17.4 per cent. EPFO has recommended distributing Rs 1.7 lakh crore to EPF members from 2023 to 2024. This amount last year was Rs 91151.7 crore.
How To Check Balance
This information is sent to subscribers through message alerts. PF account holders can also check their balance and obtain information about the PF interest amount. They have many options for this.
You can check the details of these tax accounts by directly visiting the EPFO website. The balance check facility is also available through the Umang app. In addition, the balance can be checked through missed calls and messages.
