Key Benefits and Easy Steps to Check Your Balance

Employees’ Provident Fund (EPF) is more than a savings plan; It is a reliable tool to secure your financial future. This government-backed scheme managed by the Employees’ Provident Fund Organization (EPFO) offers a host of benefits, including shared contributions, tax benefits and competitive interest rate.

Key Benefits of EPF

Shared Contributions:

One of the prominent features of EPF is the co-contribution system. Both the employee and the employer contribute to the fund, effectively doubling savings over time.

Tax deduction:

Contributions to EPF are eligible for deduction under Section 80C of the Income Tax Act and result in significant tax savings.

Competitive Interest Rate:

EPF offers a higher interest rate compared to many traditional savings options, allowing your funds to grow faster.

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Post Retirement Security:

Financial stability is ensured after retirement by paying members a lump sum consisting of their own contributions, employer contributions and accrued interest.

EPF Additive System

Employee Contribution: Typically, employees contribute 12 per cent of their basic salary towards EPF. For female employees, this rate may be reduced in the first three years of employment.

Employer Contribution: Employers also contribute 12 percent of base salary and severance pay. This amount is split between the EPF and the Employees’ Pension Scheme (EPS), adding an extra layer of retirement security.

How to Check Your EPF Balance?

Online Methods

EPFO Member Passbook Portal:

Visit EPFO ​​Member Passbook Portal.

Log in using your Universal Account Number (UAN) and password.

In the ‘View PF Passbook’ section, select your PF account to view transaction history and balance.

UMANG Application:

Download the UMANG App from your device’s app store.

To access your balance, go to EPFO ​​section and log in with your UAN and password.

Offline Methods

SMS:

Send an SMS to 7738299899 in the following format: EPFOHO UAN ENG (replace “ENG” with your preferred language code). You will receive your balance details via SMS.

Missed Call:

Call 011-22901406 from your registered mobile number. You will receive your EPF balance via SMS. Note: For seamless access to these services, make sure your UAN is activated and linked to your Aadhaar and PAN.