Provident Fund scheme is similar to a pension scheme that employees opt for to make investments, which can be utilised after the termination of their employment. Employers who have more than 20 employees in their business venture need to have their workforce registered under EPF. As per the scheme, the employee makes around 12% contribution of the basic pay; the same proportion is contributed by the employer as well.
Further, employees can manage their EPF account and opt for Provident Fund balance check to receive information on their account balance deposited till date. To assist individuals in this search, several methods are available.
Customers can log in to official EPFO portal or download apps like UMANG to avail information on their account balance. They also avail details about their account balance by sending an SMS to 7738299899 or giving a missed call to 011-22901406.
However, customers need to have their Universal Account Number (UAN) activated so that they can use the procedure to acquire the needed information.
It will help individuals make a wise financial decision as they will be able to plan their investments on time. They can withdraw the funds and invest the same in different plans after retirement. Fixed deposits are one such investment avenue, offering lucrative returns.
Fixed Deposit Calculator 