How to know EPF balance? [In-depth guide]

Employees are entitled to a retirement benefits scheme, known as Employee Provident Fund. In this, the employee and the employer contribute a part of the employee’s monthly salary. Both these contributions accumulate over a longer period to form a considerable corpus, which the employee receives during retirement from the job. There is also a provision that allows the employees to withdraw a certain portion of this EPF in some circumstances. We will see more about EPG and How to know EPF balance in the next sections.

How does EPF work?

As per the EPF Act, organisations having an employee capacity of 20 or more should register with EPFO (Employee Provident Fund Organisation). Around 12% of the basic pay is contributed by the employee as well as the employer to this EPF account. In this, the complete 12% contributed by the employee is directed to the EPF account; however, only 3.67% by the employer is directed to the account. The remaining 8.33% goes to the Employee's Pension Scheme. The government collects all these funds with the help of trusts. The amount is invested in securities by these trusts for the generation of interest rates ranging from 8% to 13% p.a.

EPFO provides employees with a Unique Account Number or UAN. The EPF account of the individual is linked with this UAN. It remains valid throughout the employee's job tenure. In case of a job change, you just need to provide the EPF account details to the new organisation to maintain continuity of contribution toward EPF.

How to know the EPF balance?

Members of EPFO can easily check EPF balance. The 4 ways in which you can know the EPF balance are as follows:

i. Using the EPFO portal:

This portal provides access to the EPF passbook. Employers with an active UAN can access it. To check the EPF balance, here are the steps to be followed:

a. Visit the EPFO portal at :

https://www.epfindia.gov.in/site_en/index.php

b. Go to the “Services” tab on the home page, and click on the “For Employees” option

c. Click on “Member Passbook” under the column named “Services”

d. Enter the UAN, password, and captcha correctly on the next page before clicking on the login button.

e. Then a page will appear where you can check the EPF balance under the corresponding Member ID.

ii. Using the Unified Mobile Application for New-age Governance(UMANG) app:

Those who intend to check the EPF balance using their mobile phone can try the UMANG app. For accessing the app, you just need to carry out a one-time registration using the employee's mobile number linked to the UAN. You can even raise the claims and track them using this app. Some simple steps for checking the previous EPF transactions with the app are as follows:

a. After installing the UMANG app on your phone, open it and click on the EPFO option.

b. Choose Employee-Centric Services to reach the next screen, where you can find the “View Passbook” option.  Click it.

c. You will then be prompted to enter the UAN number as well as the one-time password, which will be sent to your registered mobile number. You can log in now to check the EPF transactions in the present as well as previous employment. This includes withdrawals and deposits.

iii. Using the missed call service:

Employees need to have their Aadhaar number, PAN, and bank account number linked to the UAN for availing of this service. In case it is not linked already, one can request the employer to link them. Once done, give a missed call on 011-22901406 using the registered mobile number. You will receive an SMS with your EPF balance.

iv. Using SMS service:

This service can be availed only when the bank details, Aadhar, and PAN details of the employee are linked to the UAN. Those with an activated UAN can send an SMS to 7738299899. This will provide details like the PF balance as well as the most recent contribution. The SMS is sent in EPFOHO UAN ENG format, where the last three letters indicate the preferred language of the message. Apart from English, other available language options include Hindi, Punjabi, Tamil, Telugu, Kannada, Marathi, Gujarati, Malayalam, and Bengali.

Process of  checking EPF balance in case of Private Trusts or Exempted establishments:

Exempted establishments include larger firms such as HDFC, Nestlé, TCS, Infosys, Godrej, and others. In case of such firms, EPF contribution doesn't go to the EPFO but the company-managed trusts. This is the reason, the employee's PF balance can be released only by these trusts. The members of exempted establishments don't have the passbook facility. But the trusts provide higher returns compared to the EPFO managed fund.

Here are the steps for checking the EPF balance for employees working in such establishments:

i. Checking payslip or PF balance:

Internal emails are used for providing salary slips to employees in various establishments. Sometimes an additional EPF slip is provided along with the salary slip. If not, these salary slips can be used for checking for EPF account balance.

ii. Visiting the employee portal:

Larger firms have their portal where employees can log in to check their EPF balance in the EPF section. They can even download the PF statement in some cases.

How to know the EPF balance for dormant accounts?

In November 2016, the government notified that interest will be accrued to dormant accounts too and hence they would no longer come under the inoperative category. The contribution continues till the age of 58 or the date of withdrawal. The date which is earlier is considered. Those facing difficulty in tracking the inoperative account details can approach the EPFO help desk to know the EPF balance and can even get it transferred to the operative account.

Conclusion:

EPF is one of the best retirement-oriented schemes, which ensures that individuals remain financially prepared even after retiring from their jobs. By using the methods mentioned above, one can easily understand how to know EPF balance at any point. Keeping the purpose of the scheme in mind, it is necessary to avoid premature withdrawal from the EPF account unless extremely necessary.

Also read:

1) Read about the EPF Structure, Functions, Services, & Withdrawals
2) Employee Provident Fund (EPF) – Contribution, Benefits & How to Withdraw PF Online?
3) Where Do the Best Business Ideas Come From?
4) Best Home Business Ideas in 2020
5) OkCredit: All you need to know about OkCredit & how it works.

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FAQs

Q. Does the missed call method work using an unregistered mobile number?

Ans. No, it is mandatory to give a missed call from the registered mobile number only.

Q. How can we check the EPF balance of his previous organisation?

Ans. Yes, you can check the EPF balance of your previous organisation by logging in on the EPFO portal using the UAN under the respective Member ID. The portal will show the member IDs linked to the UAN.

Q. Can EPF balance be checked using the Aadhaar or PAN number?

Ans. No, there is no way of doing this. You can check the EPF balance online only by using the UAN. For availing of different online services, link the UAN and EPF accounts.