When Will EPF Interest Be Credited for FY 2023-24?

When Will EPF Interest Be Credited for FY 2023-24
When Will EPF Interest Be Credited for FY 2023-24

The Employees’ Provident Fund (EPF) is a critical savings tool for millions of employees across India, providing a financial safety net for retirement. Each year, EPF members eagerly await the crediting of interest to their accounts. The financial year 2023-24 has seen a slight increase in interest rates compared to the previous year, raising questions about when the interest will be credited.

Also Read: How to Create a Will Online? (Follow These Simple Steps)

When Will EPF Interest Rate for FY 2023-24 Be Credited?

The Employees’ Provident Fund Organisation (EPFO) has recently announced an increase in the interest rate for FY 2023-24 to 8.25% from the previous year’s 8.15%. This update was issued in February 2024. However, many EPF members are curious about the exact timing of when this interest will be credited to their accounts. In response to these queries, EPFO indicated via a social media post that the process of crediting interest is in progress and assured that the interest would be added to accounts “very shortly,” ensuring no loss of interest during the transition period.

EPF Interest Rate Credit Status for FY 2022-23

Regarding the previous fiscal year, the EPFO successfully credited the interest for FY 2022-23 to about 28.17 crore member accounts as of March 2024. Members are encouraged to check their EPF passbooks to verify the transactions.

EPF Contribution Rules

Under the EPF & Miscellaneous Provisions Act, salaried employees in establishments with 20 or more workers are required to contribute 12% of their monthly pay towards EPF, with an equal contribution from the employer. However, of the employer’s contribution, only 3.67% goes to the EPF, with the remaining 8.33% directed towards the Employees’ Pension Scheme (EPS).

What is the EPF Interest Rate for FY 2023-24?

For FY 2023-24, the Central Board of Trustees (CBT) recommended an interest rate of 8.25% on the EPF accumulations. This is a slight increase from the previous year’s 8.15%, reflecting a modest improvement in the returns for EPF members.

How to Check EPF Balance

EPF members can check their account balances and transaction details through multiple channels to ensure transparency and ease of access to their savings:

How to Check EPF Balance by Visiting EPF Member e-Sewa Portal

Checking your EPF balance through the EPF member e-Sewa portal is a straightforward process that allows members to access detailed information about their EPF account, including current balances and transaction history. Here’s how you can check your EPF balance using the e-Sewa portal:

  1. Visit the Portal: Open your web browser and navigate to the official EPFO website. Look for the ‘For Employees’ section under the ‘Our Services’ menu.
  2. Access Member Passbook: Once in the ‘For Employees’ section, click on the ‘Member Passbook’ option under the ‘Services’ menu.
  3. Login to Your Account: You will be redirected to the login page. Here, enter your Universal Account Number (UAN) and password. Your UAN should be activated by your employer, and you should have received the login details from EPFO. If you haven’t activated your UAN yet, you may need to contact your employer or follow the activation process on the EPFO website.
  4. View Your Passbook: After logging in, your EPF passbook will be displayed. This digital passbook contains all the credits and debits associated with your EPF account. You can see details such as your monthly contributions, employer contributions, and the accumulated interest on your savings.
  5. Download or Print the Passbook: If you need a physical copy of your passbook for your records or loan applications, you can easily download or print it directly from the website.

How to Check EPF Balance on UMANG App

The UMANG app provides a user-friendly interface for EPF members to access their passbooks and balance details:

  1. Download and install the UMANG app from the app store.
  2. Register using your mobile number.
  3. Select “EPFO” from the service options.
  4. Click on “View Passbook.”
  5. Enter your UAN and tap on “Get OTP” to login.
  6. Your EPF balance and transactions will be displayed.

How to Check EPF Balance Using EPFO Portal

Members can also view their EPF passbook online through the EPFO portal:

  1. Visit the EPFO website and navigate to the “Employee” section.
  2. Click on “Member Passbook.”
  3. Login using your UAN and password to access your passbook, which will show all transactions, including contributions and interest credits.

How to Check EPF Balance by Sending SMS

If you prefer an SMS-based update, send an SMS to 7738299899 with the message “EPFOHO UAN ENG” (replace “ENG” with your preferred language code). Make sure your UAN is linked with your Aadhaar, PAN, and bank account details to use this service.


The EPF remains a vital part of India’s social security framework, offering both security and savings growth through annual interest credits. With increased transparency and multiple methods to access account information, members can easily manage their savings and plan for a secure financial future

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *