Interest in EPF account: How to check whether it has been credited?
EPF, or Employees' Provident Fund, is a retirement fund that had its origins in a legislations in a young independent nation. Legislated in 1952, it has benefited generations of employees. The interest paid by the EPFO every year helps multiply the amount by a great deal over a long period of time.
Kolkata: Employees Provident Fund Organisation (EPFO) announced that it will pay 8.25% interest to its subscribers for FY25, the same rate that it did in FY24. According to reports, EPFO is crediting interest for FY25 to the EPF accounts of its members. Media reports state that many EPFO subscribers have started receiving the interest amount in their EPF account. A huge number of individuals are waiting for this interest since there are around 8 crore EPFO accounts in the country.
EPF interest: How to check whether it has been credited?
ONE: First visit the EPFO website (https://www.epfindia.gov.in)
TWO: Click ‘Our Services > For Employees > Member Passbook’
THREE: Type in your UAN number, password and captcha. Thus you can login
FOUR: Member IDs (old and current employers) will show up after you login
FIVE: Click on your current member ID to view ‘Passbook’
An EPFO member can easily download the PDF version of this passbook.
If interest is credited but doesn't show
Sometimes it may so happen that the interest has been credited but it is not visible in the passbook right away. In such a situation, one might wait for a few days to login again and check the status. One can choose to bring it to the notice of the EPFO authorities by writing online giving the details. Else one can visit the nearest EPFO office to enquire. A point to note is that if an EPFO subscriber has withdrawn money from the EPF account, the EPFO pays interest om the remaining funds till the date of withdrawing the funds.
How is EPF interest calculated?
According to the rule, a fixed amount of 12% of the basic pay + DA is deducted from the salary of an employee and put in the EPF account. The employer's share is split into two -- 3.67% for EPF goes to the same EPF account and 8.33% is channelised to the goes towards employees’ pension scheme and 3.67% for EPF. EPFO calculates interest on the contributions every month. However, the interest is credited to the EPF account at the end of the fiscal year. The interest is paid on a compounded basis.