One of the best savings options for salaried employees is the Employee Provident Fund (EPF). All salaried employees need an investment plan which they can use post-retirement. The Employment Provident Fund Organization (EPFO) has established the scheme with various benefits that can be availed by the employees easily. Every account holds a Universal Account Number (UAN), and the account number holds various member IDs that are changed as the employee changes their firms. Employees are to contribute 12% of the amount in their EPF, and the employer is to contribute 8.33% from 12% of the total interest rates.
After opening an account in Employee Provident Funds Organization (EPFO), there are several ways you can check your account balance for the same. They have provided online as well as offline methods for keeping track of the activities that take place in your account.
Below mentioned are the ways to check your EPF account balance on your phone.
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The Umang App
The Umang App was launched by the government in 2018, which provides details of other services functioned by the government. It will be easy by the employees to attain regular updates on their PF balance on their phones. The employees can view their EPF passbook, raise claims and even follow the claims from the app. To use the app, you will need to follow the one-time registration process from your mobile number.
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Use the EPFO Website
The government has provided the employees with a website of EPFO to make it easy for them to gather information on their respective accounts and the updates on the balance and passbook. Firstly, on the website, you have to click on the “Our Services” and under that the tab “For Employees”. Secondly, under the tab “Services” choose the option of “Member Passbook”. Lastly, a page will open where you will need to enter your 12 digit Universal Account Number (UAN) and the details will then appear on your screen.
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Missed Call
An employee can now check their balance by giving a missed call on 011-22901406 from the registered mobile number associated with the account. If the number is not the registered number, then the number will not be accessible from your phone. Also, Aadhaar and your PAN card number are supposed to be connected with your account number. Your employer is liable too to connect your number with your account.
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SMS Service
By registering your details on the EPFO, it will become easy for you to attain your PF balance by sending an SMS to 7738299899. For selecting a language, you need to send EPFOHO UAN ENG, where the third word is for the English language. There are various languages for which this facility is used like, Punjabi, Hindi, Malayalam, Gujarati, Tamil, Telugu, English and Bengali.
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The EPFO App
A platform named Google Play can help you download the m-Sewa app of EPFO. After the app is downloaded, you need to click on the “Member” tab and then on the Balance or Passbook tab. In the end, you will need to register your mobile number and the UAN to receive the updates easily. The mobile number that you register is to be valid and used only by you like the details of your account will be updated on the number provided.
You can easily access your account from your home or your office for checking the balance or the passbook of your account. This has become easy for all the employees as they do not need to wait every year in the end to receive their Provident Fund (PF) statements. The apps also ask for a one-time registration only, thus the time to provide details every time you enter the app has been saved.
There are other ways of investing for the employees like Bajaj Finance Fixed Deposits where they can invest less and gain more due to the higher interest rates. The investors can easily invest it through their website. Once the investor completes the process of registering, they do not need to fill in the details every time they visit the website. They can view the loan details available, download statements, make payments for EMIs, and can update the contact details on the portal itself.