Provident Fund Interest Payment: Provident Fund or Employees’ Provident Fund Organization account holders are soon going to get a great news. Holi is about to come and 6.5 crore account holders associated with PF are about to get a gift from the government! Provident Fund account holders can get interest from the government till the end of February before Holi.
Provident Fund Interest Payment
Provident Fund Interest Payment
There is news quoting the media report that the government can transfer the interest received on their deposits to the account of the PF account holders of the Employees’ Provident Fund Organisation! It was believed that this amount would come into the Provident Fund account in the month of December but it could not happen. Then it was believed that this work would be completed with the budget. But due to some reasons this could not happen. But now it is believed that the government will complete it soon.
Employees’ Provident Fund Organization
Let us tell you that the wait for the account holders of Employees’ Provident Fund Organization is getting longer and till now no clear answer has been given by the government nor there is any concern about it. It is noteworthy that in the last few years, this type of mistake is happening continuously on the part of the government. In 2020-21, the government itself had announced to pay interest at the rate of 8.5 percent on Provident Fund! But this money was deposited in the account in December. That is, despite the announcement in March, money was added to the account in December!
Provident Fund Interest New Update
At the same time, the interest rate of 8.10 percent (PF Interest) was declared by the government in 2021-22, but the money has not been deposited in the account yet! The government has recently changed some rules related to Provident Fund account in the announcement in Budget 2023. In the Union Budget 2023, the Finance Minister has announced changes in the rules for withdrawal of Employees’ Provident Fund Organisation. Now if for some reason you have to withdraw money from your PF account before a period of 5 years and the PAN card is not linked, then in such a situation 20% TDS will have to be paid instead of 30%! These new rules will come into effect from 1 April 2023.
How will your PF account be merged?
You can easily merge your PF account online. For this you have to go to the official website of EPFO. Here you have to go to Services. After this click on One Employee One Provident Fund account. After this, the form for merging the EPF account will open. Here you have to enter the mobile number registered with the EPF account. After this enter UAN and existing Employees’ Provident Fund Organization member ID. Once the complete details are filled OTP will be generated for authentication.
UAN is mandatory
OTP will come on the registered mobile number in your Employees’ Provident Fund Organisation. As soon as you enter the OTP number. Your old EPFO ​​PF accounts will start appearing. After this, fill the Provident Fund account number and click on the submit button. Your request for account merger will be accepted. Then after a few days of verification, your PF account will be merged.
But keep in mind that to avail any facility related to EPFO ​​online, you must know your UAN (Universal Account Number). Along with this, it is also necessary for the UAN issued by the Employees’ Provident Fund Organization to be active.
How to know your UAN : Employees’ Provident Fund Organization
If you do not know your EPFO ​​UAN, you can find it online. For this you need ‘ unifiedportal-mem. epfindia.gov.in /memberinterface/’. After this, click on the Employee Linked section on the right side and click on ‘Know your UAN’ number. Then you have to fill registered mobile number and captcha code in Employees’ Provident Fund Organization.
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