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EPFO is India’s retirement benefit scheme launched for benefit of the working people. EPFO amount is comprised of contributions of employee, employer, and the government. This post gives you basic information on EPF claim status.EPF claim status

If you are a newly joined EPF member, know how and where some portion of your salary gets invested. What is the interest rate and rules for your PF amount. This fund is transferred to the employee after leaving job or after retirement. And you can easily know currently EPFO claim status on official website.

What is the Amount of PF Deduction from Salary An employee and his/her employer both contribute 12% of the basic salary of the employee. Here, the basic salary also the dearness allowance if any. The entire 12% of the employee’s contribution goes to the employee’s PF account.

The balance 8.33% of the employer’s 12% contribution goes to the EPS of Employee’s Pension Scheme. When you are changing job, it is important to update your new company about your EPF number. Click here for more information about epf account or pf balance. Click here

Interest on PF On every 1 st April, the compound interest applicable on PF is decided by the central board of trustees and the government. Rule is changed every year so please keep visit its official website to see it.

Though, the contributions to the PF account is made monthly, the interest is calculated on yearly basis. Interest is calculated only on the amount of your EPF account and not on the EPS. There is no interest paid on the pension scheme.

Employee provident fund is an extremely significant saving scheme for all salaried class. It is launched by the government to provide financial dependency to people after the age of retirement. Follow us for more updates on EPF balance, PF claim status and PF withdrawal.

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