First, let us understand what PF balance means. PF stands for Provident Fund. The PF or Employees provident fund and miscellaneous act was introduced in 1952. The PF is collected by an employee when the company deducts a certain percentage from their monthly stipend. This money is collected and given to the employee after retirement from the company. Under this scheme, both you and the organization you work for pay 12% of your salary into the provident fund. For example, say your salary is Rs 20,000, then both you and your organization will put Rs 2,400 in the provident fund every month. There are several different types of provident funds:
Statutory Provident fund (SPF): This provident fund is meant for government and semi-government employees. This comprises of railways, universities, and local authorities, etc.
Recognized Provident fund (RPF): Any organization that contains 20 or more employees. Any organization can also voluntarily opt for this pf. All recognized provident funds must be approved by the Commissioner of Income-tax.
Unrecognized Provident fund (URPF): These schemes are begun with an employee and an employer but it not recognized by the Commissioner of Income-tax.
Public Provident fund (PPF): The PPF is the safest way of investing in a PF because it is controlled by the government. The goal of this scheme is to organize small saving by giving an investment with reasonable returns and income tax benefits.
What is UAN?
UAN stands for Universal Account Number. Every person who has subscribed to the Employees Provident Fund is allotted a Universal Account Number. It is the number that allows employees to manage and calculate their PF balance.
Now, how can you calculate your PF balance with UAN?
People can check their PF balance anytime by going to the UAN member portal and following some steps, no matter where they are through the EPFO (Employees Provident Fund Organisation) website, apps, SMS or even a missed call.
Using the EPFO portal
To have an epf balance check online, it is imperative that your UAN is active by your employer. You should also note that every employee, must have only one UAN no matter how many companies you change. Once your UAN is active, you have to follow the following steps to check your PF:
- Visit the EPFO portal (https://www.epfindia.gov.in/site_en/index.php)
- On the website, click on “For employees” option which is under “Our services”
- The next step is to click on the “Member passbook” tab which comes under the “Services” column
- Another page opens in which you have to enter your UAN, your password and enter the captcha that is mentioned. Then click on login.
- On the next page, you will be able to check your PF balance with your respective member ID
- Using the UMANG App
Indeed, this is the age of technology where gadgets and mobile applications have taken over the market. Checking PF is not an exception! The Unified Mobile Application New-age Governance app allows employees to check their EPF balance along with other things. The member has to enter their UAN to register with the app and check their PF. The following steps can be used to check your PF with the UMANG app:
- The first step is to download the app onto your mobile phone and click on the EPFO option.
- You will be directed to another tab, select “Employee Centric Services”.
- Another screen will open, on which you have to click the “View Passbook” option.
- By clicking on that, you will be able to see your PF transactions, along with the withdrawals and deposits from your present and former employment.
- Using SMS
This can only be used when your UAN number is activated. If you have your number activated, then you can avail the benefits of epf balance uan number. To use this method, you have to send an SMS to 7738299899 to check your PF balance and your most recent contribution. The message should contain EPFOHO UAN ENG if you wish your message to be received in English. The message facility is presently available in Bengali, Malayalam, Tamil, Telugu, Kannada, Marathi, Gujarati, Punjabi, Hindi, and English. You should also note that your PAN, Aadhar and bank details must be linked with the UAN to be able to avail these services.
- Using missed call
Another way of checking your PF balance is to give a missed call to 011-22901406 from your registered mobile number. This pf balance check number has helped a lot of epf members to know their pf balance. You should also remember that your PAN, Aadhar, and bank account number must be linked with UAN to be able to use these services. In case your details are not linked with UAN, you can ask your employer to link them.
We all work very hard to earn our bread and it is very necessary for us to keep track of it. Through the methods mentioned above, we can keep a much better track of your Provident Fund, because that plays a vital role when we retire from a company. Considering the benefits one could avail from accumulated PF such as insurance, pension, premature withdrawal, epf interest rate, and tax benefits, it is clearly evident that PF indeed plays a vital role in savings for our golden years as well. With the advancement in technology, it has now become super easy to track, as mentioned earlier in the article. Just follow the steps enlisted in the article to check your PF balance and you are good to go!