Employee Provident Fund (EPF) Interest for Fiscal Year 2024-25 Credited: Learn how to verify your account balance

Employee Provident Fund (EPF) Interest for Fiscal Year 2024-25 Credited: Learn how to verify your account balance

Title: Got your hands on the latest 8.25% EPF interest? Here's how to check it online and what to do if it ain't showing up

EPFO Insider 📈 Stay Updated The Employees Provident Fund Organisation (EPFO) has started crediting the much-anticipated 8.25% interest for the financial year 2024-25 into the accounts of its members. Although no official announcements have been made yet, many members have reported receiving the interest in their PF accounts.

The Finance Ministry recently gave the nod to an 8.25% interest rate on EPF deposits for FY 2024-25. This rate was first proposed back in February by the Central Board of Trustees (CBT) of EPFO. After the Finance Ministry's approval, the EPFO is now in the process of crediting the interest amount to EPF account holders across the country.

Breaking down the EPF interest:

When it comes to contributions, an employee contributes the full 12% of their basic pay towards the provident fund deposit, while the employer's contribution is split – 8.33% goes towards the employees' pension scheme and 3.67% towards the EPF account.

The EPFO calculates interest on these contributions each month, with the interest being added to the account annually after the completion of the financial year. This interest is compounded and is paid on both the employee and employer portions (with a few exceptions, like interest not being paid on the employer's pension fund portion).

Although the interest is for the entire year, it typically becomes visible in the passbook between June and August.

Check out: EPFO's New Rules in 2025: 5 conditions to keep in mind before withdrawing PF money

How to check if the EPF interest is reflecting in your account?

1. Navigate to the EPFO website – https://www.epfindia.gov.in
2. Click on 'Services for Employees > Member Passbook' or directly use this link – https://passbook.epfindia.gov.in
3. Enter your UAN number, password, and captcha for login
4. View your member IDs (associated with old and current employers) after login. Click on your current member ID and open the ‘Passbook’
5. Your EPF passbook will open, showcasing your employee contribution, employer contribution, and interest earned on it separately for each year. Download a PDF of this passbook if needed.

Pro Tip: If your member ID from the old company isn't yet merged, expect a zero balance in that section. Merge it with a transfer request via the EPFO portal.

What do you do if the interest is not showing up?

On occasion, even after the interest is credited, it may not immediately appear in the passbook. Wait a few days and check again. If the interest is still missing, file an online complaint with EPFO or contact your nearest EPFO office.

Additional Read: 3 Steps for Financial Freedom: Building a Retirement Blueprint for a Monthly Income of Rs 1 Lakh

Some useful EPF facts to remember:

• The interest is calculated on the average balance of the year
• Interest is not paid on the employer's pension fund share
• If you've withdrawn PF, interest is paid on the remaining funds until the date of withdrawal
• Interest is tax-free under the old tax rules, provided the total annual contribution is below Rs 2.5 lakh.

EPFO 💰 EPF Online Retirement Planning Stay Invested Stock Market Quotes India News Check our Website or App

[1] https://www.moneycontrol.com/news/business/economy/epfo-may-credit-pf-accounts-with-8-25-interest-soon-4978401.html[3] https://www.moneycontrol.com/news/business/economy/epfo-will-credit-interest-for-fys-2022-23-by-may-end-4938031.html[5] https://www.livemint.com/news/india/charts-of-the-day-how-epfo-calculates-interest-on-pf-contributions-11644941904924.html

1. With the market boom and the recent approval of an 8.25% interest rate on EPF deposits, it's crucial for individuals to understand the impact on their personal-finance and investing strategies.
2. For those who have yet to see the 8.25% interest rate in their EPF accounts, patience is key; the interest may take time to reflect and can be checked online following the steps outlined in this article.
3. With the increased interest rate, interested individuals may now consider increasing their investments in the stock market to maximize their returns on the financial market.

Read also: