EPF balance is the amount that is there in your EPF Account. EPF balance consists of amount deducted every month from your salary plus the amount that is contributed to your EPF account by your employer. Knowing your EPF balance can be a good indicator of your retirement savings.
Employee’s Provident Fund, in the year 2013, launched an online enquiry platform for fund balance. The idea behind the move was to give employees quick access to information related to their PF account balance. EPF is an important part of the remuneration structure of any salaried employee. Checking on EPF can give you valuable insights into the status of your PF account especially for instances when you wish to partially withdraw your PF amount or in case you wish to avail a loan against your EPF.
Before this services was made available to the users, finding out EPF balance was not an easy task and required forms to be filled and offices to be visited for knowing this simple information. With the launch of the online EPF balance check facility, individuals can now know their PF balance in the matter of few minutes.
How to check EPF balance online
Here are a few steps that list down clearly the process to check your EPF balance online.
Step 1: The first step towards checking your EPF balance is to keep your EPF account number handy. This is the most important information with respect to any communication regarding your EPF account.
Step 2: Open the link, http://www.epfindia.com/site_en/KYEPFB.php and click on the “Know your balance” text at the bottom of the webpage.
Step 3: Select the state of the PF office in which your EPF account is maintained
Step 4: As soon as your select your EPF state, a list of city offices pertaining to that state will be listed down. Choose your city specific EPF office from the list. For example, if your PF state office is Karnataka and the local office is in Bangalore, then select Bangalore as the city.
Step 5: Now fill in your EPF account number, your name as mentioned in EPF records and your mobile number. Generally, the EPF number would be in the following format - TN/MAS/0054222/000/0000111. In case, the three digits in the middle are not there for your EPF account number, then leave the box blank and proceed. The first two alphabets in the EPF account number is the code for region and next three alphabets is the code for PF office. Accordingly, you can choose your regional PF office.
Step 6: Click submit and the EPF balance will be sent to you via SMS on the mobile number that you have shared in the form above.
How to check EPF balance via UAN
UAN is the Universal Account Number which is unique for all individuals enrolled under the EPF scheme. This number does not change when you change your employer or your PF account number. UAN is a unique number assigned to each employee. UAN can be generated by logging in to the EPF website. Once you have registered your UAN, you will receive details like EPF balance and other such information on your mobile phone via sms.
Earlier this year, The Ministry of Labor and Employment had asked all organizations and employers to register their employees for the UAN and to ensure that EPF related formalities are up to date for all employees.
Here are a few steps that lead to EPF balance checking via UAN.
Step 1: Open the web page http://uanmembers.epfoservices.in/
Step 2: Enter your Universal Account Number of UAN.
Step 3: Enter your mobile number at which you will receive SMS.
Step 4: Select your EPF state, and choose your city specific EPF office from the list. For example, if your PF state office is Karnataka and the local office is in Bangalore, then select Bangalore as the city.
Step 5: Fill in the captcha code that is prompted by the system. Finally you will receive the pin and the EPF balance details on the mobile number that you have furnished.
How to check EPF balance via SMS or Missed Call
There are several ways which can be employees to check your EPF balance. One such way which comes in handy at times when you do not have an active online connection is via SMS or missed calls. For this you will need to have an activated UAN number. In case you have a valid UAN, your mobile number too will be registered with the EPF department. Giving a simple missed call to 011-22901406 will ensure that you receive an SMS that lists down your PF number, age and name as per the EPF records. However, you will require your UAN along with Aadhar Number or PAN Number in order to know your EPF balance.
KYC details along with UAN is mandatory for knowing your EPF balance. Once your UAN is integrated with your KYC, every time you give a missed call to the Employee’s Provident Fund department, you will receive SMS with your EPF details including the EPF balance.
How to check EPF balance via mobile app
EPFO recently launched a mobile app for PF balance tracking so as to capitalize on the mobile application trend in the Indian market. The mobile app serves the purpose of balance check as well as passbook statement. The mobile app, however, is not available on Google Play Store and as such needs to be downloaded manually from the EPFO official website. The mobile app currently in the market is only available for the android version. EPFO will soon be launching mobile app versions for both blackberry and ios devices.
On the EPFO app link, click and check save target as. Once the app is installed on your mobile phone, you can open and feed in your name and account number to track the PF status. The execution file for the app can also be downloaded to the computer and then moved to the mobile phone. The main file is named m-epf.apk and will show on the desktop or mobile screen wherever you download it to.
Here are the steps for using the EPF mobile app:
Step 1: Open the mobile app on your phone and click member
Step 2: Under the Member option, click balance/passbook and then input your twelve digit UAN number. Also feed in your registered mobile number. The system will now verify the mobile number - UAn combination and will throw an error if it does not match.
Step 3: In case the mobile number-UAN combination is correct, you will be shown a screen which displays your updated EPF balance information along with personal details like your name, date of birth, Aadhar number, PAN for tax deduction, last month EPF contribution etc.
Step 4: In case you wish to see your EPF statement for the last 7 months, you can press the “view passbook” option and get a detailed statement for the last 7 months.
EPF Mobile App for EPF Balance tracking is a good and handy way to check your EPF balance and that too on the go.
Mr. Bhatt was working in a software company when he got a job change and shifted to Bangalore. Before deciding to withdraw his PF amount or carrying it forward to the new company, he wanted to know the exact EPF amount that he has in his EPF account.
He had heard from his colleagues that obtaining the EPF balance is an easy process via the Universal Account Number or UAN. However, he had doubts since he had never generated the UAN. But, then he was told that without UAN also, he could get EPF balance information via the SMS facility.
Checking your EPF balance via the EPF website and receiving the answer on your mobile phone is a convenient way to know about the actual amount in your EPF account. This way you can keep a tab on the running balance in your PF account.
How to access and download your EPF passbook?
EPF passbook is similar to our bank account passbook. The passbook lists down all transactions with respect to your EPF account including both deposits and/or any partial withdrawals.
Using the UAN portal
UAN can be used to download the passbook online from the EPFO website and then track the status of your EPF transactions. The EPF passbook has particulars regarding monthly PF contribution, monthly PF contribution from your employer, and contribution towards the pension scheme as well as the latest EPF balance. EPF passbook is like a full statement of all your transactions with the EPFO.
The only prerequisite for obtaining this passbook is to generate your UAN number which can then be used to login and download it.
Using the Member portal
Employees Provident Fund Organization or EPFO has a member portal where you can register online and then view your EPF passbook. The facility can be availed only by individuals whose employer has uploaded the Electronic Challan cum Return for the salary month of May 2012 and beyond.
The best part about using the member portal for PF passbook is that there is absolutely no need to remember any user id or password. Only registered mobile number and any of the identity proof number such as PAN, Aadhar, voter id etc. are required to register and then make further logins. Multiple id numbers can be fed and stored along with the registered phone number. Any of these id numbers can then be used in combination with the phone number for retrieval of EPF statement via the EPF passbook.
Using the above listed two portals for downloading and viewing EPF passbook is a great way to know your EPF balance also.
Important points to keep in mind while checking EPF balance
With the introduction of technology in various government projects, the maintenance and tracking of EPF balance too has become a piece of cake. However, there are certain points that need to be kept in mind for successful login and viewing of EPF balance. Let us look into a few of these points.
- For registration at member portal for passbook download, only one mobile number can be used for one registration
- Any registered mobile number can view only one EPF account details and for more accounts either more phone numbers should be registered or PF transfer through form 13 needs to be applied for.
- One member of the portal can view a maximum of up to 10 EPF account balances
- Multiple id numbers can be added one after the other during registration so as to make use of any identity proof number during the time of registration
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News About How to Check Your EPF Balance Online
Centre Reconsiders Labour Ministry Proposal to Increase Scope of EPF Coverage
The Central Government is examining a policy that seeks to expand the coverage of industries and factories under the Employee Provident Fund Scheme. While the Labour Ministry has suggested a shift in existing policy, the Cabinet Secretariat on due introspection cited inconsistencies in the recommendation. The recent Labour Ministry proposal aims to reduce the threshold limit of EPF coverage to factories that have at least 10 employees. Under the current EPF coverage, factories with a minimum of 20 employees are entitled to benefits under the popular EPF scheme. Senior government officials from the cabinet secretariat observed that the labour ministry recommendations to reduce the threshold limit of number of employees crosses paths with an already existing provision in the EPF Act that gives workers the option to opt for the National Pension System and discard the EPFO.
The Finance Minister in his 2015-16 budget speech proposed that workers be allowed to subscribe to the NPS and EPF be made optional. The suggestion to decrease the threshold limit of EPF coverage and increase the purview of coverage to bring more employees under the scheme was one of the key recommendations of the 2012 National Labour Conference.
7th October 2016
Cabinet rejects EPFO benefits for workers of small companies
The Union Cabinet has denied the extension of EPFO benefits to employees with small companies with 10 or more workers. This move was made based on the concern that at a time when the MSME sector was being promoted for making the Make in India mission successful, bringing small and medium factories under EPFO benefits, would mean statutory deductions from them.
Currently, only organisations with 20 or more employees are under the EPF Act, where workers pay 12% of their basic salaries to the EPF, every month. According to officials, low-paid workers of small factories prefer take-home income than pension.
6th October 2016
Centre Doubles PF Investments in Stock Market
The Union Labor Ministry has raised the PF investments in stock market to 10 percent, with an aim to double the employee savings exposure to equities. The policy which is expected to cover an investment amount of Rs. 13,000 crores received negative responses from Trade Unions across the country.
The raise in investment bar is targetted to draw better returns. For the financial year 2015, return on equity investments had been 13.24 percent. These investments were split between Nifty and BSE, with the former receiving three fourth of the shares. According to Union Labour and Employment Minister Bandaru Dattatreya, the worldwide participation of pension funds in equity shares is around 30 percent.
03rd October 2016
PF Subscribers to Get Life Insurance Coverage up to Rs. 6 lakhs.
Employees working in private sector often miss out transferring or withdrawing their provident fund amount, when they change jobs or leave employment. However, it is the responsibility of the employer to ensure that every employee is covered under this scheme.
Every individual working in an organized sector is eligible for EPF schemes, the terms of which are stipulated by the Employee Provident Fund Organization (EPFO). Firms that provide a separate insurance cover to their employees should submit the details to EPFO for opting out of this scheme.
In Sep 2015, the maximum amount that can be claimed by the heirs of a deceased PF subscriber was raised to Rs. 6 lakhs. An average of the basic and dearness allowance is taken for the purpose of calculation. Claimants can receive up to 30 times the average salary.
Dependants of the deceased employee should submit documents such as death certificates, nomination proof and bank account details along with an application for the claim duly attested by the last employer. If nomination was not done by the employee then his/her heirs can make the claims by producing a legal heir certificate.
29th September 2016
EPFO earns 12.1% return on ETFs in the first year
The Employees’ Provident Fund Organisation (EPFO) earned a 12.1% return in equity exchange traded funds (ETFs) in the first year of investing. This in turn boosted the confidence of its central board of trustees to increase exposure in equities to 10%, or 15%, from the current investment of 5%. 60% of the EPFO’s corpus is invested in government securities, while 35% in corporate bonds. Although the exact figures of returns from corporate bonds and government securities has not been determined, it is estimated to be lower than 10%.
The NPS (National Pension System) earns higher returns than the EPFO owing to the fund managers indicating the need for more professionalism in the investments made by EPFO.
23rd September 2016
EPFO receives more than 95% contribution through internet banking
The EPFO (Employees’ Provident Fund Organisation) has received more than 95% contribution from establishments using internet banking for payment of contributions. The Central PF Commissioner, VP Joy, made the announcement during the review of work progress, last month. EPFO also stated that remaining establishments will also be encouraged to start using internet banking for making EPF payments, in order to avail faster services.
EPFO said in a release that it is now mandatory that employers make statutory contributions via internet banking. According to the retirement fund body, the recurring issue was enrolment of eligible construction and contractual workers. In August, 22,237 grievances that were registered on the grievance management system – EPFiGMS, were settled by EPFO, with only 4,210 pending cases. However, only 77% of the pending grievances were unresolved for less than seven days.
22nd September 2016
EPFO recovers Rs.58.2 lakh from MCC
As a part of month-long special recovery drive, the EPFO (Employees Provident Fund Organisation) has recovered Rs.58.2 lakh from Mangaluru City Corporation. The drive has initiated recovery actions to be taken under Section 8B and 8G of the EPF Act. Under the II Schedule of Income Tax Act, 1961, action is being taken against employers who have defaulted.
Defaulters are expected to remit the provident fund arrears in order to avoid any recovery action. Habitual offenders will be charged under Section 110 I (f) (c).
21st September 2016
Employee Provident Fund May Attract 8.6% Interest in 2016-2017
Employee Provident Fund Organisation (EPFO) provided 8.8% interest on EPF deposits during the financial year 2015-2016 despite Finance Ministry recommended 8.7%. However, this year, EPFO may lower their interest rate to 8.6% on PF deposits. This change is majorly because Labour Ministry is expected to Finance Ministry to reduce interest rates. Over 4 crore subscribers may get affected by this interest rate cut. An external source stated that the interest rate for a financial year is fixed by The board and the approved by a FAIC (Finance, Audit and Investment Committee). Last year, EPFO had the ability to provide up to 8.95% interest rate which would have attracted about Rs.100 crore surplus. However, CBT recommended 8.8% interest rate which was further reduced to 8.7% by Finance Ministry.
20th September 2016
EPFO Introduces Simplified Form 10-D to Seek Pension
Employees Provident Fund Organisation recently simplified their Form 10-D, which is used by pensioners to claim pension post superannuation. Form 10- D is now based on UAN (Universal Account number) which doesn’t require employer’s attestation to fix the subscriber’s pension. Currently, as per Employees' Pension Scheme 1995, subscribers are required to get an attestation form their employer to claim for their pension. In a press release, EPFO confirmed that the UAN-based pension form is released. EPFO further stated that subscribers whose bank details and Aadhar card is verified by their employer using digital signature can directly submit their pension claim from EPFO offices. About 7.34 crore UAN is allotted to EPF members so far.
19th September 2016
Pledge PF to Buy Home May Soon Become a Reality
In the near future, the EPFO might soon introduce a scheme that will allow PF holders to pledge their accounts to buy lost-cost houses. The holders will also be able to use the account to pay their EMIs. There are more than 4 crore subscribers of the EPF. The Employees’ Provident Fund Organisation is working on the scheme and a proposal will be submitted to the EPFO’s Central Board of Trustees. A meeting with the board is expected to take place this month. The EPFO will not be constructing their own houses, but instead the subscribers will be free to choose their own homes from the open market. Once this scheme is approved by the board, it will be available to subscribers.
16th September 2016