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Tips to check Provident Fund Balance Online 

 April 18, 2021

Provident fund involves various complicated procedures that need to be followed in order to avoid any violation of the labor law implemented by the state and federal government. 

Let’s take a look at the new laws and a quick preview on how to check PF online:

 

Amendment in the financial year 2021

The EPF interest rate for 2020-2021 has been changed to 8.50 percent. The contribution that will be deducted from the employee and the employer will be 24 percent. These contributions will be equally divided between the employee and the employer abiding each one to pay 12 percent. This rule implemented by the state and federal government for the financial year 2021-2022 will be imposed from 1st august of the year 2021. The reason behind such an amendment is the pandemic. The pandemic has hampered the economy of the country. Due to which such measures are taken to overcome the deficit that has been caused. An economic decline during the pandemic was inevitable but with these measures the economy can be provided with a ladder to climb up the curve.

 

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UAN number 

Universal Account Number is generated online. The employee can login on the website using his/her contact number registered on the provident fund account. UAN or Universal Account Number is allotted by the employee provident fund organization, popularly known as EPFO. This is a 12 digit number allotted to the employee. The UAN does not change with change of organization. To generate UAN number an employee can log in to :

  1. www.epf.gov.in on any browser
  2. Choose “our services” option from the dropdown board
  3. Choose “for employees option
  4. On “for employee” option one can click on the “ UANonline service” option. This page will led to the online UAN portal
  5. Opt for “activate your UAN option” from the link placed under “important links”.
  6. Fill in the required details as below mentioned points:

Universal account number

Registered mobile number

Member ID of the provident fund

Enter the captcha code 

Click on the “ generate UAN option”. 

After completion of the above mentioned steps the next step includes confirmation of terms and conditions.

The next page requires the individual to click on the “i agree” after reading the terms and conditions. After clicking on the “I agree” option OTP will be sent to the registered mobile number.  The individual needs to enter the “OTP” and click on the “validate UAN “ option. 

The individual will receive the UAN number. A UAN number is generated only once for an individual. It remains the same irrespective of switching organizations of the employee. 

 

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Calculating PF

Total PF amount includes contribution from the employer and the employee. The employee contribution towards PF is deducted from his/her basic salary, i.e 12 % of the basic salary and allowances applicable for provident fund. 

Contribution by an employer is 13% of the employee’s salary. However these 13% of the amount is categorised in further divisions 

  • 3.6 percent of the contribution is for employee’s PF contribution
  • 0.5 percent of contribution is for employees’ provident fund’s administrative charges 
  • 0.5 percent of the contribution is towards EDLI administrative charges 
  • 8.33 percent of the contribution is for employees’ pension scheme

The basic pay that is considered for calculation of PF contribution is INR 15,000. If the basic salary and allowance agrees to exceed the amount of 15,000, in such cases the amount calculated for the contribution is constant. 

 

Easy mobile access

With digitization of the country schemes such as PF, gratuity and various schemes introduced by the government has been made accessible on android and IOS devices. An employee can follow the mentioned steps and activate UAN number on mobile phones as well. 

There are various answers to the question ” how to check PF online ?” . After generation of the UAN number the employee can claim the provident fund amount at any point of time. An employee can enjoy one of the many seamless benefits of easy transfer of funds. Whenever an employee changes his/her job, an automatic transfer of the employer is done avoiding huge files and complicated procedures. 

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