4 Easy Ways to Check Your Provident Fund Balance Instantly￼
Employee’s Provident Fund that is also known as PF enables you to raise a corpus that helps you make ends meet after retirement. A portion of your salary goes into a PF account every month and an equal contribution needs to furnish from your employer’s end as well. To get clarity about the total contribution that accumulates in your PF account.
you can use these easy and simple ways:
1st Way – Try the Umang App
The Umang App which was introduc by the Indian Government proves to be one-point access to different government services. As EPF is a government-backed scheme, you can check your PF balance by using this app as well.
2nd Way – Directly through SMS
You can know your PF balance directly by typing a message EPFOHO UAN ENG. The letters towards the end of this message denote the language. You can change the language as per your convenience as the option of 10 languages is provided here. After typing this message you can send it to 7738299899 you will receive a message that reflects your EPF balance and information related to your latest PF contribution.
3rd Way – Through a Missed Call
You can also give a missed call on 011-22901406 to know your PF balance. After the missed call, you will get a message reflecting your PF details on your phone. However, for both SMS and miss call features, only the number that you submitte to the UAN portal at the time of registration needs to use.
4th Way – Via EPFO Portal
For checking your provident fund online balance via the EPFO portal you can adhere to the following steps: Go to the EPFO portal and search the option of ‘For Employees’ in a section called ‘Our Services. Here, you will find a tab called ‘Services’ under which you will find an option called ‘Members Passbook’. Click on it and submit your UAN ID and password for logging in. You can now see your passbook to check your PF details. The EPF interest changes after every quarter and currently it is 7.1%. However, if you are looking for more flexibility in terms of investment and liquidity options then you can invest in a high-paying fixed deposit scheme. The reasons for investing in this particular fixed deposit account are state below:
Lucrative FD rate
The FD interest rate of high as 7.25%. This is not only better than the current EPF rate but it is also one of the highest interest rates in the fixed deposit segment. This lucrative FD rate fetches substantial returns on maturity and you can also choose between cumulative and non-cumulative FD plans as per your financial needs.
The multi-deposit facility lets you pick the deposit amount, tenor range, and FD type of your choice to enable you to invest in several FDs at once. You can invest in multiple FDs with a single payment cheque. The tenor range is between 12 and 60 months and the minimum deposit amount for each FD will be Rs. 25,000. This feature helps you to ladder your deposits to take care of your short and long-term financial needs perfectly.
Additional rate of interest
Senior citizens can invest in any of its FD plans to receive a 0.25% higher interest rate than regular citizens. Also, the online investment option gives you a 0.10% additional FD rate as well. This higher FD rate helps you earn better returns at maturity. To check how these excess FD rates can impact your interest gains, you can use an FD calculator that is integrated into its website. EPF allows you to secure your future after retirement. You can now check the EPF balance through various ways like SMS, missed call, the EPFO portal, and the Umang App.
Investors prefer EPF as it provides a high-interest rate. EPF does not provide the kind of flexibility that you would need in today’s times as it is designed as a long-term investment tool. However, fixed deposit schemes provide a high FD rate of up to 7.25%. Not only that, but its modern features like multi-deposit facility, additional FD rate to senior citizens, additional FD rate provided on using the online FD form to open a fixed deposit account online, etc. make it one of the best instruments for meeting both short-term and long-term financial goals.