Big update on EPFO, money will come to your account by July 15

Labor Minister Mansukh Mandaviya said on Wednesday that the Employees’ Provident Fund Organization (EPFO) is completing the process of depositing interest in Provident Fund (PF) accounts for the financial year 2025-26. Members will be able to check their balance in their accounts online till 15th July.

Mandaviya said that after the implementation of Centralized IT Based Services (CITES) 2.01 in EPFO, the facility of online access to provident fund accounts has been made available.

Interest money will be visible in the account on July 15

He said that the CITES project has been designed to enhance convenience, improve the operational efficiency of EPFO ​​and provide transparent and seamless services to the members. The minister said, interest amounting to more than an estimated Rs 1.44 lakh crore will be automatically processed in about 3.4 crore member accounts at the rate of 8.25 percent for the financial year 2025-26. After this, the regional officers will verify it and then the amount will be deposited in the accounts of the members. Members will be able to see the details of interest deposited in their passbook till 15th July.

Interest will be available at the rate of 8.25%

Last month, the government had approved giving 8.25 percent interest on Employees Provident Fund. Mandaviya said that earlier the process of interest payment was completed in October-November after getting the approval from the government. He told that before the implementation of CITES, the EPFO ​​system was decentralized and each regional office had a separate database. Now all member records have been transferred to a centralized database. Under the new system, members will now be able to avail services from any authorized center in the country.

These facilities will be available in the new rules

This system will be like banking services, where customers do not need to go to any particular branch. He said that members will now have access to their details, PF balance, claim status, record of pensionable service and benefits received on an integrated digital platform. This will make information related to their PF accounts and claims more transparent.