When will Provident Fund interest be credited for FY 2022-23? Here's what EPFO said

livemint.com:

Provident Fund Organisation (EPFO) to increase the interest rate of deposits in Provident Fund (PF) to 8.15 percent. Since the announcement, many EPF members have been waiting for the interest amount to be credited in their EPF account. One of the users on Twitter wrote, “When we will get the interest added to our passbook for FY 2022-23", to which EPFO responded saying, “The process is in pipeline and may be shown there very shortly.

Whenever the interest will be credited, it will be accumulated and paid in full. There would be no loss of interest. Please maintain patience." Earlier Amit Gupta, MD, SAG Infotech had told Mint, “At the end of the financial year, the total interest for the year is credited." Although, interest is calculated on a monthly basis in an EPF account, however, they are deposited at the end of a financial year.

The transferred interest is added to the next month's balance and is then compounded to calculate interest on that month's balance amount. Once the amount is credited, users can check their EPF balance through various modes including EPFO website, SMS, missed calls, or even the Umang App. Here's how users can check their EPFO balance on website: -Visit EPFO’s official website - epfindia.gov.in.

-On the homepage, click on Services, under this, click on ‘For Employers’ -After this, you will be redirected to a new page, wherein under ‘Services’, click on ‘Member Passbook’ after which a login page will appear. -Now sign in into your account by entering the UAN, password and captcha -Now you can check your account details and the amount contributed by you as well the employer. Once the interest is credited, account holders will also be able to view the details regarding it.