Employee Provident Fund (EPF) is a savings scheme administered by the Employees’ Provident Fund Organisation of India’s Ministry of Labour and Employment that is designed to inculcate a savings habit among salaried employees while creating a substantial retirement nest egg. Under the EPF scheme, both employees and employers contribute to an Employee Provident Fund, wherein an employee earns periodic interest on his total investment amount and can access its corpus on retirement or departure from employment.
Over the years, regular EPF contributions have amassed into an investment. Employees typically reserve it for important financial goals; alternatively, it may be withdrawn and reinvested for long-term goals – either way they must remain aware of their EPF balance and related financial data.
EPFO Portal for PF Balance Check
The Employee Provident Fund Organisation (EPFO) is a non-constitutional body which regulates and oversees provident funds in India, offering members an online facility for investments, withdrawals, transfers, claims registration and PF balance check. For online access of EPF balance information through the portal, a Universal Account Number (UAN) will be needed. Each employee and employer are issued their own UANs by EPFO; an employee’s UAN remains constant regardless of employment changes.
Registration with the EPF Account
Employers usually make requests with EPFO to obtain employee UAN details. EPFO provides these to their employer, who then relays this information directly to employees. If an employer fails to do this, EPFO will share them directly. If they fail again, penalties can be assessed by EPFO for failing to do so. Checking Your EPF Balance via SMS With an EPFO registered UAN, it is possible to easily check your EPF balance via SMS. However, for maximum efficiency it would be beneficial if your PAN, Aadhaar and bank details were linked together with this UAN so as to take full advantage of these services.
Checking EPF Balance via Missed Call
You can also access your EPF balance via missed call, but this service requires registration and activation on the UAN portal, along with employer assistance in linking UAN details with KYC information. Call 011-22901406 from your registered mobile number, and it will automatically disconnect after two rings without incurring any charges. Afterward, a text message with details about your balance and contributions to your PF account will arrive shortly.
Check EPF Balance of Exempted Establishments or Trusts Under Indian law, some employers and private trusts are exempted from investing their EPF corpus with EPFO. Instead, such organizations may provide for in-house provident funds for employees within their organization – examples being well-established companies.