The Employees’ Provident Fund Organisation (EPFO) plays a crucial role in promoting financial safety and stability among employees, especially in the organised sector. One of the primary benefits provided by EPFO is the accumulation of retirement savings through the EPF scheme.
Both employees and employers contribute a percentage of the employee’s salary to the EPF account, creating a substantial corpus over time. This corpus acts as a retirement nest egg, ensuring financial support post-employment.
This account offers additional benefits such as insurance coverage and a pension under the EPS scheme, providing financial protection to employees and their families in case of unfortunate events or after retirement.
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If you are also confused as to – How to check your EPF balance online, then there are two main methods to verify your EPF balance online, both requiring your Universal Account Number (UAN) and internet access.
Access the EPFO Member Passbook Portal to conveniently view your Provident Fund (PF) account details online.
– Visit the official EPFO Member Passbook portal.
– Log in using your UAN and password.
– Choose the specific PF account you want to review (if you have multiple accounts).
– Select “View PF Passbook” to see your detailed transaction history and current balance.
– Alternatively, use the “View Passbook (New: Yearly)” option to check yearly contribution summaries.
Download and install the UMANG App, which offers various government services, including EPF balance checks.
– Go to the EPFO section within the UMANG App.
– Log in with your UAN and password to access your EPF balance and additional details.
As EPF deductions
Read more on financialexpress.com