EPFO: How much money will the government put in the account of 7 crore PF account holders, here is the account

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2 years ago

Unified Member Epfo Interest: If you are a PF account holder, then this news is of great use to you because let us tell you that the government has stamped the percentage of money placed in the Employees’ Provident Fund Organization that earns interest (EPFO). For the financial year 2021-22, 8.1 percent interest is to be paid by the government on EPF. The Employees’ Provident Fund Organization has not said how long this interest amount will be credited to PF account holders’ accounts. The Employees’ Provident Fund Organization has almost 7 crore account holders.

How much is the interest money?

Employees’ Provident Fund Organization (EPFO) is going to pay interest at the rate of 8.1 percent to the account of PF account holders for the financial year 2021-22. Government officials have not yet provided official confirmation. However, according to the news, the government can apply for interest money on the amount deposited in the PF account this month.

How the interest was calculated

The amount placed into a PF account holder’s account determines how much payment will be sent to him or her. More interest will be generated on deposits of greater amounts. The government will pay interest at a rate of 8.1%. In this approach, the provident fund will pay you 81,000 rupees in interest each year if you deposit ten lakh rupees in your PF account.

What does the government do with your PF?

The funds deposited into the PF account holder’s account are invested by EPFO in a variety of ways. A part of the profit earned from this invested amount is given to the PF account holder. Last month. in August 2022 itself, it was told by the government that EPFO invests 85 percent of its funds in debt instruments. He makes exchange-traded fund investments of 15% of the whole portfolio (ETFs).

When is interest earned?

Let us tell you that the interest is calculated on the basis of the month by the PF department. However, the interest in the PF account is only credited after the fiscal year has ended. You can check your PF balance in this way. You have to visit the EPFO website. After selecting “Our Services,” a section titled “For Employees” will show up. After choosing it, you must pick Member Passbook. You will have to enter your UAN number and password on the portal. In addition, the UMANG app allows you to download a passbook. For this, you have to go to the EPFO section in the UMANG app. After logging in there, the option to download the passbook will come.

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