Your Guide to Checking Your EPF Details
Checking your EPFO passbook is the best way to see a complete record of your Provident Fund account. It shows all contributions from both you and your employer, as well as the interest you've earned. By regularly checking it, you can make sure your money is being deposited correctly and track the growth of your savings.
How to Check Your EPF Balance and Passbook Online
The most detailed way to check your EPF balance is through the official EPFO portal. Before you start, be sure your UAN (Universal Account Number) is activated.
Go to the EPFO Member Portal.
Log in using your UAN and password.
Enter the security code.
Once logged in, click "Member Passbook."
Select your Member ID to view your passbook.
You can also download a PDF of your passbook for your records. This is a handy document for financial planning.
No UAN or Internet? No Problem!
You don't always need to log in to get your EPF balance check. The EPFO offers a few simple, no-login options.
Missed Call Service: From your registered mobile number, give a missed call to 9966044425. The call will disconnect, and you'll get an SMS with your latest balance. Your UAN must be linked to your bank account and Aadhaar for this to work.
SMS Service: Send an SMS from your registered mobile number. Type EPFOHO UAN ENG and send it to 7738299899. You'll receive a message with your details. You can also get this in other languages by changing "ENG" to your preferred language's first three letters.
Using the UMANG App
The UMANG app is an excellent way to check your EPFO passbook on the go. It's a single app for many government services, including EPFO.
Download the UMANG app from your app store.
Open the app and find the "EPFO" section.
Choose "View Passbook" and enter your UAN.
You'll get an OTP on your registered phone number. Enter it to see your balance and passbook.
Importance of EPFO
The EPFO's importance lies in its role as a mandatory safety net that ensures long-term financial stability for employees.
Financial Discipline: It instills a habit of compulsory saving, helping employees build a substantial retirement fund without having to make conscious, active decisions every month.
Retirement Security: The EPF corpus and the EPS pension provide a reliable source of income after retirement, ensuring a dignified life and financial independence in old age.
Emergency Fund: While primarily for retirement, the EPF allows for partial withdrawals in specific situations like medical emergencies, marriage, or buying a house, offering a financial cushion during critical life events.
Tax Benefits: Contributions to the EPF are eligible for tax deductions under Section 80C of the Income Tax Act, and the interest earned and final withdrawal are also tax-exempt under specific conditions.
Life Insurance: The EDLI scheme provides a much-needed safety net for the employee's family, offering a lump sum payment in case of an untimely death.
Where EPFO Is Used ?
The accumulated funds under EPFO are primarily used for:
Retirement: The entire corpus is available for withdrawal upon retirement at the age of 58.
Unemployment: An employee who is unemployed for more than two months can withdraw their entire EPF amount.
Specific Withdrawals: Partial withdrawals can be made for specific purposes like home loans, education, marriage expenses, or medical treatments.
Pension: The employer's contribution to the EPS scheme is used to provide a monthly pension to the employee after they retire.
Beneficiaries
The beneficiaries of EPFO services are the vast majority of India's organized workforce.
Employees: Any salaried employee working in an establishment with 20 or more employees is a mandatory beneficiary of the scheme. The employee's monthly wage must be below ₹15,000 for mandatory enrollment, but those earning more can also opt in.
Employers: Employers are also beneficiaries as the scheme provides a structured way to offer retirement benefits and comply with labor laws.
Pensioners: Individuals who have retired after contributing to the EPS scheme receive a regular monthly pension.
Family Members: In the event of an employee's death, their nominee, spouse, or other legal heirs are the beneficiaries of the pension and insurance benefits.
