EPFO may hike interest rates, PF employees could receive additional benefits – Learn how to check your PF balance
The Employees' Provident Fund Organization (EPFO) is considering a major benefit for PF account holders in the next financial year. It is reported that a proposal to increase interest rates has been prepared, which, if approved, will result in additional income for lakhs of employees. While no official announcement has been made, indications are that the new financial year could prove to be a profitable one for employees.
Proposal to increase interest rates for 2025–26
According to sources, the EPFO is considering raising the interest rate to 9% for the next financial year. Currently, 8.25% interest was given on PF for 2024–25. If the new rate is implemented, the increase will be 0.75%. Approximately 7 to 7.5 crore employees across the country will directly benefit by this change. The decision is expected to be made at the Board of Trustees meeting.
The proposal is expected to be approved in February. Upon approval, the additional amount will be transferred directly to PF accounts.
How to Check Your PF Balance on the EPFO Portal
Checking your PF balance is now much easier than before.
Open the EPFO portal
Login by entering your UAN and password
Verify your mobile OTP
Download your passbook using the Passbook Lite option
Your full balance will be displayed there.
Process to check PF balance using UMANG App
Install the UMANG app and login. Type EPFO in the search bar.
Click on View Passbook.
Enter your UAN number.
Submit the OTP.
Select your Member ID and download the passbook.
The full PF balance will be displayed as soon as the passbook opens.