The Most Authentic Guide on Personal Finance and Investments


Words of Wisdom : "Two roads diverged in a wood and I took the one less traveled by, and that made all the difference." ~ Robert Frost

Have you checked your Employee Provident Fund (EPF) Account balance?

As you are aware, companies deduct a part of your salary every month and, together with their own contribution, deposit it in your Provident Fund Account.

However, it has been observed that sometimes when the company is undergoing financial stress and does not have sufficient cash, it fails to comply with this statutory provision. Not only does it delay paying salaries but also skips making the necessary deposits to the PF Accounts of its employees.


Given that the Employees Provident Fund Organisation (EPFO) has now computerized its data and provided you with the option to check your PF balance online, it would be advisable to do so from time to time.

This would ensure (a) that you spot errors, if any, and get them rectified and (b) you come to know well in advance whether the company is defaulting on its commitment to make PF deposits, especially if your company is facing financial difficulties.

The 3 simple steps to check your PF balance are as under:

Step 1: Log on to http://www.epfindia.com/site_en/KYEPFB.php and click at the link 'Click here to Know Your PF Balance' given to know the balance

Step 2 : Select your PF Office State (e.g. Gujarat, Maharashtra, etc.) and your EPFO Office (city such as Mumbai, Nasik, Pune, etc.)

epfo-balance
Employees Provident Fund Balance Information

Step 3 : Enter your PF Account No. (take it from your Salary Deptt.), Name and Mobile No. and click on Submit

epfo-balance
Employees Provident Fund Balance Information

Done.

You will receive your account balance through an SMS giving Employee Contribution (EE amount) and Employer Contribution (ER amount) as on a particular date.


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