Diwali bonanza for your EPF: Find out how much interest you are going to get

PF interest rate boost for subscribers across the nation as the Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation (EPFO) to credit the interest.

The EPF interest rate was kept unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year.

“People must appreciate that the government has maintained the rate of interest for 2020-21 despite a huge economic downturn due to COVID-19," Virjesh Upadhyay, EPFO board member and general secretary of Bharatiya Mazdoor Sangh was quoted saying. 

Read/Watch Also: EPFO rate at 7 year low

An EPFO subscriber can check its EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is “EPFOHO UAN ENG." So, an EPF account holder, who has its UAN number, is advised to send SMS in this format to 7738299899. On receipt of the SMS, the EPFO will reply to that SMS with the senders' PF account balance details.