New Delhi: Nowadays, Provident Fund or popularly known as PF is a common term for working class people. Every month, a specific amount is deducted from the employee’s salary and deposited into the Employee Provident Fund.
Read More: Here’s How Salaried Employees Can Check Their EPF Balance
Usually, PF is the first step towards retirement corpus. Notably, working professional do not deposit money in EPF accounts by themselves rather it is the company, in which the employee is working, that deposit the PF money every month by deducting a certain amount from our salary and we get annual interest on it.
PF Deduction Scenario
In the context of PF deductions, the company deducts 12 percent of the employee’s basic pay and DA every month for depositing into the PF account. Simultaneously, the company contributes 12 percent to the employee’s PF account. Of the company’s contribution, 3.67 percent is credited to the EPF account, while 8.33 percent is deposited into the Pension Scheme.
How To Check Whether The Money Is Deposited In PF Account?
The employee gets information about whether the money is being deposited regularly through SMS or you must check for it by yourself.
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To inquire about the deposited money, an employee must check the passbook of the account. An employee can find the details of the amount credited to his/her in the passbook. He/she can check this by visiting the EPFO Portal.
Here’s How To Check Passbook On EPFO Portal
Visit the EPFO Portal at https://www.epfindia.gov.in/site_en/index.php.
Ensure that your UAN (Universal Account Number) is activated.
On the homepage, locate the ‘Our Services’ tab and choose ‘Employees‘ from the drop-down menu.
Click on ‘Member Passbook’ located just below the service column.
Read More: PF Deducted From Salary By Employer, Not Deposited To EPFO? Here’s What To Do Next
Log in by entering your UAN, Password, and the provided captcha.
Once logged in, input your Member ID to view your EPF balance promptly.
