How to check your EPF account balance? A step-by-step guide
The Employees’ Provident Fund (EPF) stands as an excellent avenue for retirement savings in India. It promotes consistent savings by involving contributions from both employees and employers. The automatic deduction from your salary for EPF renders it an exceedingly convenient method for retirement savings. Below is an outline of the contribution framework:
Employee’s contribution: Typically, 12% of your basic salary. Some adjustments apply to female employees during the initial three years of service.
Employer’s contribution: Corresponding to 12% of your basic salary and dearness allowance. This employer contribution comprises two components, viz., EPF contribution and contribution to theEmployee Pension Scheme (EPS).
Thus, with contributions from both you and your employer, a substantial sum is set aside for your retirement each month.
There are two primary methods to verify your EPF balance online, both necessitating your Universal Account Number (UAN) and internet connectivity:
EPFO Member Passbook portal: The EPFO Member Passbook Portal enables registered members to conveniently access their Provident Fund (PF) account details online.
UMANG App: The UMANG App, an acronym for Unified Mobile Application for new-age governance, is a beneficial tool introduced by the Government of India. It aims to simplify and enhance citizen access to various government services, ensuring greater ease and convenience.
As EPF deductions occur continuously during your employment, it’s crucial to have convenient methods for monitoring your balance. Fortunately, there are a couple of offline options available to check your EPF balance as well:
SMS: If your UAN is linked to a registered mobile number, you can send an SMS to 7738299899.
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