EPFO sent a warning: By disregarding the crucial information it provided to 6.5 crore individuals, significant costs may result

EPFO sent a warning: By disregarding the crucial information it provided to 6.5 crore individuals, significant costs may result

EPFO sent a warning: By disregarding the crucial information it provided to 6.5 crore individuals, significant costs may result

EPFO ALERT: This information is for you if you have a PF account. Let us notify you that 6.5 crore individuals have received the relevant information from EPFO. Ignorance has also been believed to have negative effects on oneself.

For those of you who work for a salary as well, this is significant information. 6.5 crore individuals have received alerts from EPFO, along with some crucial information about PF accounts. The money that salaried employees deduct is managed by the EPF. It has informed its members about cybercrime as a result.

According to EPFO, several instances of fraud involving PF accounts have surfaced. Through phone calls and mails posing as EPFO (EPFO News), fraudsters are requesting personal information from individuals and turning them into victims of fraud. EPFO has suggested exercising caution in this kind of circumstance.

What is the amount transferred into the PF account?

For the purpose of employee retirement, EPFO accumulates retirement savings. Under this, the employee and the business both deposit money. Twelve percent of an employee's base pay is deducted under the EPF account, and the firm deducts the same amount. This monthly deposit earns an annual interest rate of 8.1 percent. The money is given to the workers when they reach retirement age.

Pay attention to these calls and texts.

Be cautious if you get a message or call from EPFO as well, since it may be intended for fraudulent purposes. The EPFO tweeted that they do not provide information on passwords, UANs, PAN numbers, or Aadhar cards. doesn't even request personal information, account number, or OTP. In addition, it doesn't request that you share such content on WhatsApp or other social networking platforms. advised not to respond to these mails.

EPFO has decreased the interest rate.

The interest that workers earned under their PF accounts was lowered by the workers Provident Fund Organization from 8.5 percent to 8.1 percent. In forty years, this is the lowest level. The lowest interest rate from 1977 to 1978 was 8%.