The Employees’ Provident Fund (EPF) is an outstanding retirement savings option. It fosters regular savings by requiring payments from both employees and employers. EPF is a handy way to save for retirement because it is deducted automatically from your salary.
Before we can explain further, below is an outline of the contribution framework:
-Employee contribution is typically 12 per cent of your base income. During the first three years of service, female employees are subject to certain changes.
-Meanwhile, employer contribution equals 12 per cent of your basic salary and dearness allowance. This employer contribution is divided into two-parts: EPF contributions and contributions to the Employee Pension Scheme (EPS).
As a result, with contributions from both you and your employer, a sizable sum is set aside for retirement every month.
Here’s how to check your EPF balance online
EPFO Member Passbook portal:
The EPFO Member Passbook Portal allows registered members to easily access information about their Provident Fund (PF) accounts online. The step-by-step process is mentioned below:
-Go to the official EPFO Member Passbook portal.
-Enter your UAN and password to sign in.
-Select the PF account you want to review.
-To access the whole transaction history as well as the existing amount, click “View PF Passbook”.
-You can also view yearly contribution summaries by using the “View Passbook (New: Yearly)” option.
UMANG App:
The UMANG App, which stands for Unified Mobile Application for New-age Governance, is a useful tool introduced by the Government of India (GoI). It seeks to simplify and improve citizen access to diverse government services, resulting in improved simplicity and convenience.
Step 1: First install the UMANG app.
Step 2: Open the app and navigate to the EPFO section.
Step 3: Please enter your UAN and password to sign in.
Step 4: You will then be able to view your EPF balance and other details.
There are a few offline ways available to check your EPF balance as well.
SMS: If your Universal Account Number (UAN) is linked to a registered mobile phone number, you can send an SMS to 7738299899. The message should be formatted as: EPFOHO UAN ENG (replace UAN with your actual UAN and ENG with your preferred English language). Within a few seconds, you will receive an SMS with your current EPF balance information.
Missed call: If your Universal Account Number (UAN) has been linked to a registered mobile number, you can give a missed call to 011-22901406. After which, the call will disconnect automatically, and you will receive an SMS informing you about your EPF details.
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