EPF interest for FY 2023-24: When will it be credited and how can you check EPF balance?

TOI Business Desk / TIMESOFINDIA.COM / Apr 29, 2024, 17:32 IST

Text Size

Small
Medium
Large

EPFO increased interest rate to 8.25% for FY 2023-24 from 8.15%. Members inquire about credit date. ET reports interest credit for FY 2022-23. Check balance via UMANG app, EPFO portal, or missed call.

EPF interest for FY 2023-24: When will it be credited and how can you check EPF balance?

The Employees' Provident Fund Organisation (EPFO) sets the interest rate for provident fund deposits annually. In February 2024, the EPFO announced an interest rate of 8.25% for the financial year 2023-24, up from 8.15% for the previous year. This has led to many EPF members asking, "When will EPF interest for FY 2023-24 be credited to accounts?"

When will EPF interest for FY 2023-24 be credited?

The EPFO, in response to a query on social media platform X (formerly known as Twitter), stated that the process is ongoing, and the interest credit will be reflected soon. They added that when the interest is credited, it will be done in full, ensuring that no member loses any accrued interest.

EPF interest status for FY 2022-23

According to ET, the EPFO credited interest for the financial year 2022-23 to 28.17 crore members' accounts by March 2024.
In a social media post, EPFO stated, “Dear member, the interest for Financial Year 2022-23 has been provided to 28.17 crore members accounts of EPFO as on date. Members may please check their EPF passbook.”
ALSO READ | Now, update KYC details for your EPF account online - detailed guide to new provident fund process

How to check EPF balance

EPF members can use any of the following four methods to check their account balance:
UMANG app

Download and install the UMANG app.
Register using your mobile number.
Select "EPFO" from the available options.
Click on "View Passbook."
Enter your Universal Account Number (UAN) and request an OTP.
Enter the OTP and click "Login" to view your passbook and balance.

EPFO portal

Visit the EPFO website and go to the "Employee" section.
Click on "Member Passbook."
Enter your UAN and password to access your passbook and check your balance.

Missed call

Registered UAN holders can give a missed call to 011-22901406.
You will receive an SMS with your latest EPF balance.

SMS

Send "EPFOHO UAN ENG" to 7738299899 to get your EPF balance via SMS.
For other languages, replace "ENG" with the first three letters of the language (e.g., "MAR" for Marathi).

Stay informed with the latest business news, updates on bank holidays and public holidays.

Boost your business with AI. Join this course by GrowFast and unlock the power of artificial intelligence. Sign up now!

About the Author

TOI Business Desk

The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.

End of Article