PF or Provident Fund is a specialised fund that is deemed as mandatory in the case of salaried employees earning basic wages of up to Rs 15,000. It holds funds that are prerequisites for an individual, especially in their post-retirement days. These funds help ensure that he/she can stay financially independent despite the absence of a stable income.
Keeping in mind the convenience of the account holders, multiple provisions are being provided to ensure smooth access to this account. It includes the facility to go for a PF status check conveniently via offline and online methods.
With frequent check-ups on its balance, one can assess if their savings match up to their financial goals or if they need to make further investments to build upon their corpus. In case this balance falls short of your financial goals, you can always go to invest a part of the PF amount into other investment schemes that fetch guaranteed and attractive returns.
One of the most secure investments schemes is fixed deposits that offer:
- Competitive interest rates.
- Higher stability of your corpus.
- Higher credibility.
- Hassle-free application process.
- Loan against fixed deposit.
- Multi-deposit facilities.
FDs from reputed financial institutions like Bajaj Finance are one of the investment options you can opt for.
Benefits of PF
While investing in such schemes offer the investors with guaranteed returns, salaried individuals have the benefit of having a fund from their organisation’s end. It contains equal contributions from both an employer and an employee. Considering that this fund is accumulated across the service years of an individual, it often serves as the best go-to option to manage post-retirement finances.
How to check PF balance?
Checking your PF balance has been made straightforward and hassle-free –
1. Online mode
With the ease of availability of internet, checking the provident fund balance via its official website has been made convenient.
However, ensuring that your UAN has been activated is amongst the prerequisite. This unique number is enrolled under the EPFO organisation and remains the same irrespective of the organisations that they change across their service life.
Here is what individuals need to do to go for their PF status check –
Step 1: Log in to the portal of EPFO.
Step 2: Click on the tab ‘Our Services’ and choose ‘For Employees’ from its drop-down menu.
Step 3: Select the ‘Member Passbook’ option under the ‘Services’ tab.
Step 4: Key in your UAN on the login page that appears along with your password after it is activated.
2. Via the UMAANG app
Considering the ease of accessibility of smartphones, the EPFO has also provided options to reach out to the PF account via an app – UMAANG. It involves merely downloading this app, followed by –
Step 1: Launch the app and select the option ‘Member’.
Step 2: Visit the ‘Balance or Passbook’ section
Step 3: Enter your UAN and the registered contact number.
The use of this app is inclusive of but limited to the checking of your fund’s balance that helps manage your money more effectively.
You can also:
- Track PF claims.
- View your passbook.
- Raise claims.
- Know the status of your claim.
- Get TRNN status.
- Search an EPFO office.
- Get remittance details by providing establishment ID, etc.
3. Call or SMS
You can go for a PF status check by giving a missed call to 011-22901406 from your registered contact number (with the UAN portal).
You can also go for SMS to 7738299899. Keeping in mind the convenience of the individuals, the PF status has been made available in 10 languages in total and hence caters to the varying requirements of all.
Checking the PF balance is essential considering that it brings with it multiple benefits that include –
- Availing a loan against the available balance.
- Plan their expenses in advance.
With such convenient access to this savings scheme, individuals now have the provision to plan ahead and ensure that their future expenses are well-chalked out in advance. Additionally, one can also go for further investments in case they require attractive returns that would help them finance their big-ticket expenses easily. Such savings schemes help make life easier in the golden years.