EPFO Interest Deposit Date: The 6.5 crore individuals no longer have to wait! Before Holi, the government would deposit interest funds into the account.

 EPFO Interest Deposit Date: The 6.5 crore individuals no longer have to wait! Before Holi, the government would deposit interest funds into the account.

Up to December 2022, EPFO account holders were supposed to receive interest payments (PF interest rate) on their PF deposits. The main cause of this was the inability to transfer funds in December 2021 even though interest rates were revised in March during the previous fiscal year.

The Holi celebration will soon arrive, and the 6.5 crore Indians who have been waiting for it may no longer have to. We're talking about people with PF accounts... Before the festival, it is anticipated that the government will be able to send the interest funds to the account. People had anticipated receiving this money in their accounts prior to the Budget 2023 presentation, however this was unable to occur. Despite the fact that the amendment to the PF rules was announced by Finance Minister Nirmala Sitharaman in her budget speech.

Expected interest transfer before Holi


The expectation of the account holders that soon the interest money earned on the amount invested in the PF for the financial year 2022–2023 can arrive into their account has increased again following the announcement of amendments to the laws regulating PF during the budget. If media stories are to be believed, it is also possible that before Holi, the government may offer the Employees' Provident Fund Organization's members a sizable gift (EPFO).

The government has not yet made any announcements.

Regarding the interest of PF, the government has not made any formal announcements. Let us inform you that EPFO account holders' wait times are growing longer. Account holders haven't received their PF interest payments on time for the past few years. While the interest payment was made in December 2021, the PF interest rate for 2020–21 was determined at 8.5 percent in March. The interest rate for 2021–2022 was set at 8.10 percent at the same time in March of last year, but even after the start of the new year in 2023, funds could not be deposited into the account.

Learn the new PF withdrawal regulations.

On February 1, 2023, the government declared relief for the withdrawal of EPF funds when presenting the nation's general budget. This announcement related to the modification in PF rules. TDS deduction on withdrawal of PF deposits has been decreased from 30% to 20% under the new rule. This government action will help PF account holders whose PAN cards have not been updated in their PF accounts.

Previously, if someone's PAN card was out of date in EPFO records, he was had to pay TDS at the rate of 30% on money withdrawals; going forward, he will instead be required to pay TDS at the rate of 20%. Let me state right here that TDS is applied to any money a PF account holder withdraws from the account within five years.


40-year low for interest rates

According to the story, it will be a huge gift for the bank customers if the government sends the PF money to their accounts before Holi. Please note that the rate of interest on deposits made to PF accounts was lowered from 8.5% to 8.1% in March 2022. The interest rate hasn't been this low in over 40 years. The interest rate was set earlier in 1977–1978 at 8%. Since that time, it has regularly been at or above 8.25 percent. The available rates were 8.65 percent in the fiscal year 2018–19, 8.55 percent in the fiscal year 2017–18, 8.65 percent in the fiscal year 2016–17, and 8.8 percent in the fiscal year 2015–16.

How to check after an exchange of money

A 12% deduction is made from the employee's income towards their EPF account. The EPS (Employees' Pension Scheme) receives 8.33 percent of the employer's wage deductions, while the EPF receives 3.67 percent. The government has provided numerous ways for you to learn more about the interest funds that are entering your account.

by SMS

Send the text "EPFOHO UAN ENG" (replace ENG with HIN) to 7738299899 to check your balance through SMS. The balance details will be provided in the response.


using a website

Visit the EPFO website. From the 'Our Services' dropdown menu, choose 'For Employees'. Next, select Member Passbook. Now use your UAN number and password to log in. As soon as you open the pf account, you will be able to see the balance.

using the Umang app

Through the Umang app, you can also check your Pf balance. If you have a smartphone, use the Umang app and select EPFO to get started. After selecting Employee Centric Services, select View Passbook and input your UAN and password. Your PF balance will be displayed once you have entered the OTP that was sent to the registered cellphone number.