The Provident Fund (PF) is a staple of retirement planning for salaried employees in India. With digital advancements, checking your PF balance has become seamless and convenient. The Universal Account Number (UAN) facilitates this easy access. This article guides you through the steps required to check your PF balance online using UAN login and provides insights into the current Public Provident Fund (PPF) rate of interest.
Understanding UAN
Universal Account Number (UAN) is a unique 12-digit number allocated to each member of the Employees’ Provident Fund Organisation (EPFO). This unique identifier brings all PF accounts under a single roof, making it easier for employees to manage their funds. Your UAN remains constant throughout your career, irrespective of the number of jobs you switch.
Prerequisites for Checking PF Balance Online
Before proceeding, ensure you have the following details:
- Activated UAN
- Registered Mobile Number
- EPFO Member Portal Credentials
Steps to Check PF Balance Online Using UAN Login
Step 1: Visit the EPFO Portal
Go to the official EPFO website at [www.epfindia.gov.in](https://www.epfindia.gov.in/).
Step 2: Navigate to the UAN Member Portal
From the homepage, find the ‘Our Services’ section. Under this section, click on the ‘For Employees’ link.
Step 3: Click on ‘Member Passbook’
Under the ‘Services’ drop-down menu, select ‘Member Passbook’. This action will redirect you to the UAN Member e-Sewa Portal.
Step 4: Login with UAN and Password
On the UAN Member e-Sewa Portal, log in using your UAN and password. Enter the Captcha code displayed on the screen and click the ‘Sign In’ button.
Step 5: View Your PF Balance
Once logged in, you will be directed to your account dashboard. Here, you can view all your PF accounts linked with your UAN. Select the desired account, and the system will display your balance and detailed statements.
Alternative Methods to Check PF Balance
SMS Service
Send an SMS to 7738299899 in the format: EPFOHO UAN ENG. Replace ‘ENG’ with your preferred language code if required.
Missed Call Service
You can also check your PF balance by giving a missed call to 011-22901406 from your registered mobile number.
PPF Rate of Interest
While discussing provident funds, it’s pertinent to also touch upon the Public Provident Fund (PPF). The PPF is a long-term investment option backed by the Government of India, providing tax benefits under Section 80C.
Current PPF Rate of Interest
As of the latest update, the PPF rate of interest stands at 7.1% per annum. Interest is calculated on a monthly basis but is credited to the account at the end of the financial year. This rate is subject to periodic revision by the government.
Calculation of PPF Interest
If an investor invests INR 1,00,000 annually in a PPF account, the interest accrued in one year can be calculated as follows:
Interest for a year \( I \) = Principal \( P \) × Rate of Interest \( R \)/100
So, if:
\( P \) = INR 1,00,000
\( R \) = 7.1%
\( I = 1,00,000 × 7.1/100 = INR 7,100 \)
Disclaimer
Investors must gauge all the pros and cons of trading in the Indian financial market before making any financial decisions. The policies and rates mentioned are subject to government regulations and market conditions. Always ensure to refer to official sources for the most current data.
Summary
Checking your Provident Fund (PF) balance online has become incredibly straightforward thanks to the Universal Account Number (UAN). The UAN is a unique 12-digit identifier assigned to EPFO members, simplifying the management of their PF accounts. This article detailed the process of PF balance check online using UAN login. It involves visiting the EPFO website, navigating to the UAN Member Portal, and using your UAN and password to log in. Once logged in, you can view all your PF accounts and their respective balances. Alternative methods such as SMS and missed call services were also discussed.
Moreover, the article touched upon the Public Provident Fund (PPF), which offers a secure long-term investment option with the current rate of interest being 7.1% per annum. An example calculation was provided to illustrate how interest is accrued in a PPF account. However, it’s crucial to acknowledge that financial decisions should be made after carefully considering all relevant factors, and investors should always refer to official sources for the most up-to-date information.
By following the steps outlined, employees and investors can effortlessly keep track of their PF balances, aiding them in informed financial planning for the future.
