Traditionally, employees found it difficult to check their PF claim status as there was no way to do it except visiting the local EPF office. However, now you do not need to visit the EPFO office or depend on your employer for knowing your PF claim status.
Let us see how you can check your PF claim status using your mobile phone:
The Government of India has launched multi-functional mobile apps like the Umang app that enables you to fetch all the details regarding your PF account on the go. You can access your PF account passbook, raise a PF claim, and also track your PF claim status using this app. This app is available for both Android and iPhone users.
Now you can send a missed call on 011-22901406 from your registered mobile number to know your PF claim status. The call with get automatically disconnected after a few rings, and you will receive the PF claim status update as an SMS on your phone. However, for that, your UAN number should be linked with your PAN, AADHAAR number, and bank account number. This service is toll-free, and you can use both regular phones and smartphones to check your PF claim status.
Employees who have activated their UAN can also check their PF claim status by sending an SMS on 7738299899 from their registered mobile number. They need to type EPFOHO UAN and send it on the aforementioned number.
The SMS facility can be availed in ten languages and if users want to access their PF details in any other language apart from English, they need to also include the first three characters of the language after the UAN. For example, users who want to check their PF claim status in the Hindi language will send SMS as ‘EPFOHO UAN HIN’ on 7738299899.
How can you multiply your PF corpus?
If you decide to withdraw your PF amount after leaving your job or upon retirement, it makes sense to look for investment options that can help you grow your PF corpus. EPF is a debt-focussed investment, and hence, it fails to provide good returns when the inflation levels in the market are very high. The Government decides interest rate for EPF depending upon the liquidity in the system. The interest rate changes every quarter.
However, there is a better investment alternative like Company FD, which offers better returns than EPF and most other fixed-income investments. Here, the interest rate doesn’t change every quarter since these deposits are not directly linked to RBI interest rate movements.
Moreover, some company FDs like Bajaj Finance FD provide interest rates up to 8.9%, which is much higher than the current EPF interest rate. Let us see how you can benefit from investing in Bajaj Finance FD:
- High returns- As shown in the table below, you can earn up to 54% ROI (Return On Investment) with Bajaj Finance FD. It is difficult to earn similar returns with other investments in this category.
|Investor Type||Interest rate||Amount||Tenor||Interest||ROI|
|New customer||8.6%||Rs. 25,000||5 years||Rs. 12,765||51%|
|Senior citizens||8.95%||Rs. 25,000||5 years||Rs. 13,377||54%|
|Existing customers||8.85%||Rs. 25,000||5 years||Rs. 13,202||53%|
- FD calculator – You can use the Online FD calculator to predict your returns in advance. This FD calculator lets you calculate the final amount at maturity on the basis of tenor and type of FD you are choosing. Therefore, you get a precise estimate of your earnings, which you can use to plan your future expenses.
- Safety – Bajaj Finance FD is accredited for its safety and stability by renowned credit rating organizations like CRISIL and ICRA. Therefore, your investments are completely safe. Your invested capital remains unaffected by the market fluctuations and changing economic conditions.
Company FDs are an ideal investment option to diversify your investment portfolio and mitigate the risks of other high-risk investments in your portfolio. You can invest in an FD with short tenor to beat inflation and earn high returns in the short-term.