In India, there have been numerous incidents of companies misappropriating funds from their employees' Provident Fund accounts. Recently, the Economic Offences Wing of the Delhi Police has filed a case against Ajay Singh, the Managing Director of SpiceJet, along with three other senior officials of the airline. They face charges of cheating and criminal conspiracy related to outstanding Provident Fund (PF) dues.
To combat these malpractices, the Employees Provident Fund Organisation (EPFO) is set to implement an important measure. Reports indicate that employees will receive real-time SMS notifications whenever money is deposited into their Employee Provident Fund (EPF) accounts. If employees do not receive an SMS on their registered mobile number regarding this service, it may indicate that the company is embezzling their PF funds.
Currently, many employees are unaware of whether their Provident Fund (PF) money is being deposited into their accounts. While they can check their PF balance through various methods, there has been no real-time solution available to track the status of PF deposits. According to reports, the Employees Provident Fund Organisation (EPFO) is working on modifications to its IT system, similar to those used by banks, to address this issue.
Many companies are deducting Provident Fund (PF) contributions from employees' salaries but failing to deposit these amounts into their PF accounts, resulting in significant losses for the employees. This practice has led to an increase in complaints to the Employees Provident Fund Organisation (EPFO), adding to its workload.
Meanwhile, if you want to check check your Provident Fund (PF) balance, you can check it in 4 different ways.
Four ways to check PF balance:
1. EPFO Member Portal: You can visit the official EPFO website and log in to the member portal using your Universal Account Number (UAN) and password. Once logged in, you can navigate to the 'View' option and select 'Passbook' to see your PF balance and transaction history.
2. UMANG App: The UMANG app, which is a unified mobile application for various government services, allows you to check your PF balance. After downloading the app, you need to register and link your UAN. Once done, you can easily access your PF balance and other related services.
3. SMS Service: If you have registered your UAN with your mobile number, you can check your PF balance through SMS. You need to send an SMS in a specific format to the designated number provided by EPFO. The message will typically include your UAN, and you will receive your PF balance details in response.
4. Missed Call Service: You can also check your PF balance by giving a missed call to the EPFO’s designated number. Make sure your UAN is linked with your mobile number. After making the call, you will receive an SMS containing your PF balance and other details.
