Interest money is going to be credited to the PF account in some time! Check in this way whether it has been credited to your account or not!
The Employees' Provident Fund Organization (EPFO) has recently made an important announcement regarding the increase in interest rates for more than 7 crore Provident Fund (PF) account holders of the country. A large number of individuals are expected to directly benefit from this decision. Interest is deposited in the account of PF account holders every financial year. Let us know when this credit will happen and how you can check whether the interest has been credited to your account or not.
It will take more time
The decision to increase interest rates was recently announced by the Central Board of Trustees (CBT), the decision-making body for EPFO. Now before implementing the new interest rate, the Finance Ministry will have to approve it and the Home Ministry will later publish it in the Gazette. Only then will the deposited amount reach the accounts of the account holders. Therefore this process may take some time to complete. While the interest rate for the financial year 2022-23 was 8.15%, it has been increased to 8.25% for the financial year 2023-24.
How can you check?
Whenever there is a transaction in your PF account, a message is sent to your registered mobile number. However, if you wish, you can independently verify whether the interest has been credited to your PF account or not. This information can be obtained through messages sent to your registered mobile number, using the Umang app or by sending a message from your phone. Additionally, you can log in to the official website of EPFO, epfindia.gov.in, to get detailed information about your account.