Wondering how to check PF balance? It is a good practice to regularly check your PF balance online as part of your financial planning. You can efficiently plan for your retirement or re-invest in the future by assessing your EPF amount. Being informed of your PF balance also helps you feel financially secure and ready in case of unexpected expenses. If you do not know how to check your balance online, keep reading. We’ve explained the process here in detail.
It is thanks to the new rules introduced by the Employee’s Provident Fund Organisation (EPFO) that the process of online PF check has now become quite accessible and convenient to its account holders.
Hence, you do not have to wait until the year-end for your employer to share the PF statement. To understand how the online process works, follow the step-by-step guide below. In this article, you will learn how to check EPF balance and check PF account balance online.
Know How to check PF account balance
1. How to check PF Account balance online using the app?
You can view your PF balance by using ‘UMANG (Unified Mobile Application for New-age Generation).’ It can be downloaded on your smartphone from Play Store (for android users) or Apple Store (for iOS users). UMANG is a government-launched app that provides access to various government services on a single platform.
Here’s how. To check EPF balance, you only need to make an initial registration. And for this, make sure you use the mobile number that is linked with your UAN (Universal Account Number). You can find the UAN number on your payslip or get it from your employer to start your UAN balance check.
Upon completion of the registration, you can access your PF details, including PF balance, KYC status, raise and track claims. Here is how to check PF balance online.
Step 1. Go to the app and click on the EPFO option.
Step 2. Now select ‘Employee Centric Services.’
Step 3. Choose ‘View Passbook’ from the various options on the screen.
Step 4. Enter your OTP (One-Time Password) and UAN. Balance check requires both these fields for two-factor authentication.
Step 5. Click on ‘Log in’ to access your EPF transactions and balance statement.
2. How to check PF Account balance online on the website?
You can access your EPF passbook by using the EPFO portal. Just keep your UAN handy, as this is a UAN balance check. Here is how to check PF balance with UAN Number online:
Step 1. Log in by visiting the EPFO portal.
Step 2. Click on the ‘Services’ tab that you will find at the top of the page.
Step 3. Select ‘For Employees’ from the drop-down menu.
Step 4. Select ‘Member Passbook’ under the Services section. This will direct you to another page.
Step 5. Input the UAN and password along with the captcha. Click on ‘Login.’
You can view your PF statement once you’re directed to the webpage.
3. How to check PF balance through SMS?
PF statement can also be accessed using the SMS if you have your UAN activated. Here’s how to check the PF statement.
How to check EPF balance:
First, you need to get your UAN number. How to get a UAN number through SMS? Well, you can recover lost UAN and view the latest PF statement through just one SMS. Simply send an SMS ‘EPFOHO UAN ENG’ to the following contact number: +91 7738299899.
Make sure to use the number registered with your UAN when sending the SMS. If you prefer languages other than English, change the last three characters of the message accordingly. You can check the available languages. The SMS service provides 24×7 support.
4. How to check PF balance via missed call?
Another way to check your PF balance is by giving a missed call to 011-22901406 from your registered mobile number. You will immediately get a response with your PF details. A prerequisite to avail of this service is that your UAN must be linked with your Aadhar number, PAN (Permanent Account Number) and bank account.
Top Benefits of PF Account You Should Know
Here are the reasons why you should have a PF account.
Capital Appreciation
The EPF or PF online scheme offers a guaranteed rate of return which is higher than many other fixed-return instruments. Presently, the EPF guarantees an interest rate of 8.10%. Also, know that earning up to Rs 1.5 lakhs is tax-free under Section 80 C.
Loan Against PF
Your PF is not a static investment collecting interest return alone. You can wield it without breaking it. How? By taking a loan against it. Should an emergency befall, you can borrow as much as your present PF balance without breaking it at a nominal interest rate of 1%. The tenure to return this amount is typically 36 months.
Insurance at No Additional Cost
Thanks to the EDLI Scheme, the insurance amount on PF has been increased from Rs. 6 lakhs to Rs 7 lakhs. This means that if a PF holder passes away during service, their benefactor becomes eligible to receive this amount. The PF holder doesn’t pay any premium to this death cover.
Quick Premature Withdrawal
Long gone are the days when withdrawing funds from the PF was an uphill task. Today, with e-governance and all the technology at our fingertips, holders can apply for partial or full withdrawal to meet specific needs, such as medical emergencies, funding higher education, or anything else. What’s more, they can liquidate their EPF online.
PF Pre-Mature Withdrawal Conditions
If you opt for a complete PF withdrawal, you can do so under the following circumstances.
- If you have been unemployed for over two months.
- If you have retired.
- If you are between jobs or are about to switch employers. In this case, you can withdraw your previously deposited PF amount; however, the transition period must be over two months. If you switch from an old employer to a new employer within a matter of days, and the new employer is willing to contribute to PF, you will stay invested.
If you opt for a partial PF withdrawal, you can do so under the following circumstances.
- In case of a medical emergency.
- To fund your higher education.
- To purchase, construct or renovate a property.
- To fund a wedding.
Housing Finance Repayment
You can borrow up to 90% of PF funds for the specific purpose of constructing your home or buying it from a developer. Not only this, but you can also withdraw this amount to repay your home loan instalments or purchase a plot of land.
Pension Corpus
If you regularly contribute even the minimum monthly amount into your PF for 15 years, you become eligible for a pension once you turn 58. Your pension benefits come from your employers’ PF contribution.
Final Thoughts
Previously, it was a challenge to keep track of your PF or access any other financial services. But now, it is easy to access and manage your finances by just using your smartphones. And after reading this article, you know all the ways to check PF account balance. So, make use of the online services and keep all your finances in order without having to visit the government office.
Also, make a PF account balance check the first task on your To-Do list at the start of every year. This will ensure efficient assessment and planning of your finances. You can then use the PF corpus for various reasons, including medical emergencies, wedding expenses, and repayment of home loans.
If you’re looking for any financing services, consider applying for a personal loan with Tata Capital. And enjoy a seamless loan experience with benefits like flexible loan repayment, relaxed eligibility criteria, negotiable tenures, speedy processing and quick fund disbursals.
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15 December 2023
8 mins read
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