EPF Balance: How to Check My EPF Balance Online
Epf Balance Check Online Hey guys welcome to the new post where I am sharing about the epf balance full guide for the people who want to learn how they can use the epf balance site to withdraw the amount.So we know that so many people have a different query regarding this epf balance so that we decided to share the complete guide on Epf balance and epf account.So if u are the employee then u should know the importance of epf balance foremployeess.so ourIndiann government has took the good decision for the employees who can easily withdraw the salary at any time from the epfo account.
- 1 What EPF Is and How You Can Check Online EPF Balance:
What EPF Is and How You Can Check Online EPF Balance:
EPF (Employee Provident Fund) or EPF balance is a kind of service. It is being given by the Indian Government to people who are working in a private or public sector firm or company. If you are working in a private company, you must know about this retirement benefit option or scheme. Since it is the most important part of an employee’s overall work, it is mandatory to know about EPF. If you want to learn how to check your EPF balance online, you must know the procedure. So, let’s keep reading it.
Epf Balance Status:
Ministry of labor and Employment, Government of India initiated the EPF retirement scheme. EPF scheme was introduced in 1951. The main motto behind introducing this retirement scheme is to offer financial support to employees especially after retirement.
It is considered among the most famous retirement schemes among employees of private sector. The EPF scheme is designed as a three-sided contribution especially towards the employee’s EPF account.
The employer and employee contribute to EPF account every month. The contributed amount is usually about 12% of the basic salary. This way, the total contribution to a certain PF account would be 24% of the total monthly salary of an employee. Moreover, the government of India also offers a fixed-rate of interest to this PF amount. The procedure ensures that the amount contributed in the employee’s EPF account should grow over the time.
Moreover, the government of India also offers a fixed-rate of interest to this PF amount. The procedure ensures that the amount contributed in the employee’s EPF account should grow over the time.
This way, the total contribution to a certain PF account would be 24% of the total monthly salary of an employee. Moreover, the government of India also offers a fixed-rate of interest to this PF amount. The procedure ensures that the amount contributed in the employee’s EPF account should grow over the time.
Since the main objective behind introducing this scheme is to help employees grabbing good amount of fund after retirement, it is considered as an essential part of overall job process.
This retirement scheme is thoroughly administered by the official EPFO, which is an official authority under the Indian Ministry of Labor and Employment.
How does EPF Auctualluy Work:
As already mentioned above that the both i.e. employees and employers need to pay 12% of the total basic monthly salary towards the EPF account, the total amount would be 24% on monthly basis.
However, the employee’s 12% contributed amount goes directly to the EPF Account, the employer’s 12% contributed amount can be divided as given below –
• 33% of amount goes towards EPS (Employee Pension Scheme).
• 67% of amount goes to EPF or Employee Provident Fund.
• 1% of amount can be contributed towards EPF administration charges.
• 5% of amount goes to EDLI (Employee Deposit Linked Insurance).
• 1% amount goes towards Employee Deposit Linked Insurance Administration fees.
Passing the time, EPF rules have been altered with regards to contribution rules, coverage, withdrawal processes and many others. A few great rules changes done in September 2014, with some more changes in September, 2016. So, if you want to know latest changes to EPF rules, you need to keep visiting at our website. We will keep updating latest information about EPF rules and regulations.
Procedure to Check EPF Balance Online
Since every employee wants to grab latest information about his or her EPF account, it is necessary to learn how to check EPF Balance online. So, you must check out the complete procedure of checking your EPF account balance online.
Remember, knowing your current EPF balance could help you decide ahead as well as stay within your specific budget. Furthermore, there could be situations when you need fund urgently. You could be facing some financial problem such as wedding at your home or something else.
Therefore, knowing how much EPF fund you have in your EPF account can help you getting rid of financial crisis. You can be able to withdraw a certain portion of your total EPF amount balance when you need it urgently. You may also apply for loan using your EPF account fund. Remember, your EPF amount can serve as evidence that you could be able to repay taken loan.
Epf balance check Online:
There was a time when employees had to personally visit at one of the Regional EPFO Offices to grab information about their current EPF balance. But in the year of 2011, Government initiated a facility that helps individuals to check their current EPF balance on the internet.
Apart from offering your existing EPF balance details, this facility also provides an overview of your current EPF account activities. By making a few clicks, you could be able to check out all of your EPF account details. You can check your employer’s contributed amount. You can also check how much interest you have earned on your EPF Account.
For checking your EPF account balance, you don’t need to be a computer geek. For checking your current EPF Balance, you just need to have a computer with internet connection.
Step-by-Step Guidelines on Checking EPF Balance Online:
Before you get involved into checking your EPF balance online, you should first grab your 12-digit official EPF account number. So, let’s check out the stated below complete process of checking your current EPF account balance online.
• First, you should visit at the official site of EPFO.
• Now, you need to open your KYEPFB or “Know Your PF balance” webpage.
• Here, you will find a button showing CLICK HERE TO CHECK YOUR PF BALANCE.
• By clicking on the button, you will need to choose your state of EPFO office from the given drop down menu.
• Here, you will need to choose an EPFO office according to your city.
• Choose an office where you have an EPF account.
• In case of not aware of your office that has details of your EPF account, you need to have a look at the first 5 characters of your current EPF Account Number. Remember, the first 2 characters simply show the code for your specific state. Moreover, the next 3 characters simply show the code for your certain Regional EPFO Office.
• Now, you need to provide your current EPF Account Number, write your name and yes your contact number.
• Here, you need to go through usual terms and conditions, and then click on “I AGREE” option.
• Choose submit option.
• You will be sent an SMS containing details about your current EPF or PF balance on your mobile number.
Additional Methods or Procedures to Check Current EPF Balance:
f you have an activated Universal Account Number or UAN, you can use other methods to check your current EPF balance details. So, you can also check your EPF account balance by visiting at the UAN Member Portal.So this are the sepre u need follow the epf balance for employees.So we know that as per th guide we share each and every method how u can easily follow the epf rules.If you are the opne who dont know how to do Epf Balance then u should check out the about epfo guide on epf balance check online.