BUSINESS
EPFO Update : A major update for 34 million EPFO members: PF interest accrual begins; balance can be checked online until this day
EPFO PF Interest Credit : The Employees' Provident Fund Organisation has started crediting interest into the PF accounts of 3.4 crore members for the financial year 2025-26. ...read more
New Delhi | Labor Minister Mansukh Mandaviya said on Wednesday that the Employees' Provident Fund Organization (EPFO PF Interest Credit) has started the process of crediting interest to provident fund (PF) accounts for the financial year 2025-26. Members will be able to see the updated amount in their accounts online by July 15. Mandaviya told the media that online access to provident fund accounts has been made available after the implementation of Centralized IT-based Services (CITES) 2.01 in EPFO.
The updated amount will be reflected in the passbook by July 15.
Mansukh Mandaviya said that,
"An estimated interest of over Rs 1.44 lakh crore will be automatically processed in about 3.4 crore member accounts at the rate of 8.25 per cent ( PF Interest Rate 8.25% ) for the financial year 2025-26 . The regional officers will then verify it and the amount will be credited to the members' accounts. Members will be able to see the details of interest credited in their passbooks (EPFO Passbook Update) by July 15."
Last month, approval was given for paying 8.25% interest.
Last month, the government had approved 8.25 percent interest on the Employees' Provident Fund. Mandaviya said
"Earlier, the interest payment process used to be completed in October-November after getting government approval. Before the implementation of CITES, the EPFO system was decentralized and each regional office had a separate database. Now all the member records have been transferred to a centralized database."
Under the new system, members will now be able to avail services from any authorized center in the country. This system will be similar to banking services, where customers do not need to visit a specific branch. He said that members will now have access to their details, PF balance, claim status, record of pensionable service, and benefits received, on a unified digital platform.
