EPFO Interest Update: Have you received interest on your EPFO account deposits for the year 2023–24? Do you have queries related to your EPFO passbook balance? If yes, we have got you covered. Here are all the updates you would need on your EPFO balance and interest for the financial year 23–24.
EPF Interest Rate for FY2023–34?
For the financial year 2023–24, the CBT suggested an annual rate of interest of 8.25%. Notably, the interest rate earlier was 8.15% in the previous financial year.
“The Board has recommended a distribution of historic income amount of Rs. 1,07,000 crores to EPF members’ accounts on a total principal amount of about Rs. 13 lakh crores, which was Rs. 91,151.66 crores and Rs. 11.02 lakh crores in the financial year 2022-23, respectively. The total income recommended for distribution is the highest on record,” a PIB release said on the interest amount.
EPFO Interest Credit Date
From the times when EPFO announced interest for FY 2023–24 in February this year, every EPFO account holder has been eagerly waiting for the interest credit. As per the recent updates, 28.17 crore EPFO subscribers have already received interest for the year and the rest of the users will receive the credit soon.
“Sir my question is when EPFO interest of subscribers FY-2023-24 will be credited? This will improve the image of EPFO & subscribers will bless the Central Govt,” Sukumar Das, a Twitter user, asked EPFO about interest payments.
EPFO responded saying, “Dear member, The process is in pipeline and may be shown there very shortly. Whenever the interest will be credited, it will be accumulated and paid in full. There would be no loss of interest.”
How To Check EPFO Passbook Balance
- Log on to epfindia.gov.in
- Share your UAN number, password and captcha code on the site.
- Click on the e-passbook mentioned on the site.
- Now open member ID and check details
- After this, you can see the total EPF balance in your account.
How To Check EPFO Balance Through UMANG App
- Open the UMANG App
- Click on EPFO.
- Click on View Passbook option
- Submit your UAN number and password
- Feed the OTP that you will receive on your registered mobile number
- Check your EPF balance in the EPFO passbook.
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