Good news for employee provident fund account holders or EPFO members. The central government has declared the 8.1 percent interest to be transferred to 7 crores EPFO members. The government has prepared well in advance for this Diwali gifts to all PF account holders in India.

Diwali Gifts for Employees | Up to Rs 81,000 will be transferred into PF account 

As per several media reports the central government signed off this approval to transfer upto Rs 81000 to all active EPFO members by the end of October this year. This amount of PF interest rate is lower than the total PF interest rate for the financial year 2020-2021. Let us know the details on this.

Diwali Gifts for Employees, up to Rs 81,000 will be transferred into PF account

If the employees has the balance of Rs 1 lakh in their PF account then the Rs 8100 amount will be transferred, similar way if the PF balance is 50,000 the the interest amount will be Rs 4050, If employee has the balance of Rs 10 laks then the total amount will be transferred of Rs 81000. But it is fixed to transfer amount maximum upto 81000 only, even the interest amount is high also.

The central government said that they have sent total Rs 72000 crores in the account of government to transfer to all EPFO members as per rules and regulations of this new interest scheme. This time the interest rate has been fixed 8.1 percent for 7 crores EPFO members. However this is the lowest interest rate in last 40 years for EPFO members.

The EPFO members are waiting to be transferred this amount to their PF account. Most probably this Diwali, it will be gift to all EPFO members. It seems like government started planning to develop new more scheme and benefits for the PF account holders. If you are not holding any PF account yet or not keeping balance in your PF account, then it recommended to not to withdraw your PF account balance. It will help to grow your extra earning by saving good amount in your PF account. Government is preparing well to give many benefits for the EPFO members in India.

Coming back to the point of this article on the new interest rate of 8.1 percent of total PF account balance. There are almost 7 crores active EPFO members in India. These members will get the interest amount transferred by the end of October this year, which will be transferred around Diwali festival.

How to check PF account balance?

You can easily check your PF balance by sending SMS, using UMABG App or by logging on EPFO portal directly. You would require UAN number to check your PF balance online, if you do not have UAN number then you may contact your employer or company. If you want to see your PF contribution every month from your salary then please refer your salary slip. You may find your UAN number in your salary slip also. Once you get your UAN number then you need to activate it on EPFO portal online. There are many videos available in YouTube to check or activate PF account.