PF Balance Check: As per the regulations of the Employees Provident Fund Organisation, it is obligatory for employees who earn below Rs 15,000 to make contributions into their PF account. Furthermore, individuals who make $15,000 or above have the option to make contributions to the PF account at their discretion. If your PF is deducted as well, you should be aware that 12% of your basic earnings is deducted monthly for PF contributions.
However, not everyone may be aware of where and how the 12% is deposited and where you will receive a pension post-retirement. Today we will discuss this topic and also show you how to easily check your PF balance from the comfort of your home. EPFO manages the Employees’ Provident Fund (EPF) in conjunction with the PF account.
As mentioned earlier, a 12% deduction from your basic salary goes towards PF every month. 8.33% of the total 12% share is allocated to the EPS account, from which you will receive a pension upon retirement. 3.67% of the balance is saved in your PF account. You are able to take out this money for purposes such as medical emergencies, constructing a home, getting married, educating your children, and so on.
How to verify balance from the comfort of your own home
Now we will explain how you can easily check your PF account balance from the comfort of your own home. To achieve this, you must adhere to the simple steps outlined in the following.
Step 1: The initial step is to visit the EPFO’s official website. To get started, select the services option at the top and locate the employees option to click on. Next, locate the Member Passbook option in the list that appears in front of you and select it.
Step 2: A different page will appear on your screen where you need to provide details such as your UAN number, password, captcha code, and mobile number to complete the submission.
Step 3: Next, an OTP will be sent to the mobile number connected to your Aadhaar. Once you enter the OTP and click on verify, you can view your PF balance on your screen if the OTP is correct.