Your EPF interest will be credited by July 15
What's the story
The Employees' Provident Fund Organisation (EPFO) will credit an interest rate of 8.25% on PF deposits for FY2025-26, Union Labour and Employment Minister Mansukh Mandaviya announced today. The total payout of over ₹1.44 lakh crore will benefit some 34 crore EPFO members by July 15, the minister said. This comes after the Centre approved the EPF interest rate for the fiscal year, allowing the annual crediting process to begin.
Tech upgrade
Interest crediting process becomes automated
Mandaviya further revealed that this will be the first time the payout is being processed automatically, thanks to the launch of a centralized database by the EPFO. The automation is expected to speed up the annual interest crediting process for subscribers. "Now, the process has become automated, which has reduced the processing time," he said while announcing these changes.
Digital access
New digital portal for members
Along with the automated interest crediting process, Mandaviya also announced a new digital portal for EPFO members. The platform will allow subscribers to check their PF balance and claim status in one place. Further, the auto-settlement limit for EPF claims has been increased from ₹1 lakh to ₹5 lakh for fully KYC-compliant accounts, making claim processing faster and more efficient.
Interest details
How to check updated balance
The EPF interest is calculated on monthly running balances but credited once a year after the government's approval. Subscribers can check their updated balance after the interest is credited through the EPFO portal, UMANG app, or their passbook. This new system will ensure that members have easy access to their account information and can check their updated balances through the portal.