Epf India

EPF Interest Rate 8.5% for 2019-20, Calculate Employment Provident Fund Interest Rates

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Overview on EPF Interest Rate, How to calculate Employment Provident Fund Interest Rates, EPF Interest Rate Lowered to 8.5% for FY2019-20. EPF has reduced 15 basis points.Calculate Interest on EPF.

If you are interested to know about the overview of the EPF interest rate. On 6th March, 2020, EPFO has lowered the interest rates on PF deposits by 15 basis points. Now, the EPFO has fixed the interest rate to 8.5% for the financial year 2019-2020. This is the interest rate that changes and reviewed every year at the end of the financial year. And if you searching for the EPF interest rate for the financial year 2017 – 2018 then you are at the right place. Go on and find out the EPF interest rate along with a little brief description about EPF.

EPF which means Employee Provident Fund is a scheme where the employee and employer equal amount towards employees account. Employee will contribute 12% of his basic salary and employer contributes 12% of employees salary. But employers contribution of 12% goes into 2 things that is out of 12% the percentage of 8.33 is towards EPS and remaining 3.67% towards EPF. It is the retirement benefit that the employee is availed with. Read the article completely to know more about interest rate.

Employee has an option to withdraw the amount during the service period in case of specific reasons or else he can withdraw the whole accumulated amount at the time of retirement. It is totally depend upon Employee.

EPF Interest Rates

For the EPF the EPFO’S Central board of trustees along with Ministry of finance review the interest rate every year. Usually the review on interest rate will be in the month of February which may extended to April and May. But in fact the review should be at the end of the financial year.

Overview of the EPF interest rate

If we look at the trend of interest rate for the financial year 2012 – 2013 the interest rate was 8.5% and then there was an increase in financial year 2013 – 2014 upto 8.75%. But in financial year 2014 – 2015 the interest rate was neither decreased nor increased it stood at 8.75%. In financial year 2015 – 2016 there was a increase upto 8.8%. From 2016 – 2017 financial year starts the decreasing tread where the interest rate goes down to 8.65%. In the next financial year i.e 2017 – 2018 it has further dipped to 8.55%. , and now there was an announcement that it is going to be 8.5% for this financial year2019-20.

Interest rate for the financial year 2017 – 2018 8.55%. while the EPF interest rate has been decreasing as you can observe the EPF interest rate for the financial year 2016 – 2017 is 8.65% and if go further back the EPF interest rate for the financial year 2015 – 2016 is 8.80%. In 1989 – 2000 it was noted to be the highest interest rate reviewed and the the rate of EPF interest is 12%.

EPF interest will be calculated every month but the EPF interest will be deposited only at the end of financial year that is on 31st March for all the months.

Depending on the entity the contribution of EPF will change. As in case of entity with less than 20 employees or for the industries like jute, beedi, brick, Coir and Gaur gum the employee will make lower than 10%.

Usually the contribution of the employer will be like 8.33% towards Employees Pension Scheme account of the employees and 3.67% towards Employees Provident Fund account of the employees and 0.50% towards Employees Deposit Linked Insurance account of the employees. It means as a whole and in a simple way depending on the entity EPF contribution is of 2 things that is Employees contribution and employers contribution.

Thank you for reading the article completely. Hoping that the article is useful and informative. Follow us to know more about the EPF and the other things that you need to know about EPF interest rates.

In every year EPF Interest rates may vary. So, keep visit our website at epfindia.site for more updates/ you can also check the EPF official website at epfindia.gov.in

EPF Death Claim Procedure PF Withdrawal After Death

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EPF Death Claim Procedure PF Withdrawal After Death, How to fill EPF death claim filling by beneficiary through Online for withdrawal Money…,

Government jobs are always safe and secured. Government jobs give a feel of confidence and fulfillment. All that expect from the government jobs is the amount from the savings they make during their employment period. One of such savings is their contribution to EPF account. If any case the employee dies the amount that has been save can be recovered by the nominees or the heirs of their family.

EPF Death Claim Procedure

There are various cases where most of the people are dependent on the single working person in a family and it feels very bad to get strength in case of death of that person both mentally and financially. But the EPF amount that will be kept saving by the person will reduce the financial burden of the family giving them some relief from the tough time that family members go through.

But there are certain criteria that one has to be fulfilled so that their nominees can recover the EPF amount.

EPF Death Claim Procedure PF Withdrawal after Death

In case of death, one has been deposited amount into this EPF account at least for one month or

Employee should have completed 58 years and should have completed a time period of minimum of 10 years of employment or job service.

There are certain documents that you have to keep with you when you want to fill EPF death claim form which includes death certificate of the employee, a picture that contains the employee and the nominee together, cancelled cheque or also the first page of the pass book, birth certificate of the children if there are any, EPF certificate.

There are certain documents that are compulsorily required to avail this facility which includes death certificate of the person, picture which includes all the beneficiaries, EPS scheme certificate and also crossed check or make sure you get a copy of your pass book first page with attestation.

Let’s now go through the various steps that will lead you to fill EPF death claim. You can easily go through the process using the online mode of processing. The steps are as below:

All you will be required to do in the first step is to visit the EPFO official website and then go important links option wherein opt for death claim filling by beneficiary.

And then as a beneficiary you are asked to provide certain details like UAN of the beneficiary, Aadhaar card number of the beneficiary and also the full name of the beneficiary which includes your date of birth also.
Recheck your details that you have provided and then enter the captcha that has been shown and then click get authorization pin.

You will receive an OTP to your Aadhaar linked phone number and enter the OTP and then you will be able to fill in all the forms relating to your benefit.

Hope you understood all the steps in a clear cut manner and don’t hesitate to come back to us for any type of queries.

Keep following the page for more updates and any information about EPFO. Thank you for choosing us.

Forgot Universal Account Number (UAN) Password, Lost/Reset/ Change EPF (UAN)

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Forgot Universal Account Number (UAN) Password, Lost/Reset/ Change EPF (UAN) Universal Account Number Login password :
It is in the olden days that we used to stand in queues for long hours to make minimum changes to our PF account, but now the days have changed and you can make changes, know about your account details and so many things by sitting at your own place. You can easily recover your password if you have forgotten or lost or can change your password if you actually wanted to change it.

The Employee provident fund Organization have provided a facility for such mistakes of forgetting password or loosing of password. Here we have provided various details regarding how to recover your password if you have forgotten, UAN password lost or change of (UAN) Universal Account Number in a very simple steps and

How to Reset/ Change Universal Account Number Password

You are just few steps away and you can change or reset your password by following the below mentioned steps

  • The first thing you need to do is to login to EPFO member login E-seva page. We have provided you the link and the link is LINK – https://unifiedportal-mem.epfindia.gov.in/memberinterface/
  • Once you open the given link, in that page click on forgot password which will be on the right hand side of the home page, once you click on forgot password then you will be redirected to a new page to proceed to further steps.

Universal Account Number (UAN) Login Page

  • In the new page, where you will be asked about your details, fill in your (UAN) Universal Account Number number and enter captcha and after filling in both the details, then click submit for next process.

Universal Account Number UAN Login Page

  • Then a new webpage appears and you need to fill in the space with (UAN) Universal Account Number number and also enter your registration number and then click on YES option to receive OTP (one time password) to your registered mobile number.
  • Within few seconds you will get an OTP (one time password) to your registered mobile number, enter the OTP (one time password) in the slot allotted in that page and click VERIFY option to verify the OTP (one time password) that you have entered.
  • Once you enter the One Time Password, it will be verified and then you will be asked to enter your new password and then re enter new password. And with this step, your new password is created.
  • You can now login with your user id and new password from then onwards and have access to your account details and enquiry whenever you require through online at your convenience.

Hoping that the article is very informative and will be helpful for you when you need it. It is always essential to keep in mind that your password and other personal information are confidential and needs to be careful while handling them.

For further details and enquirers you can login to EPFO official website.