EPF Interest Credit: Member Accounts Of 98% Contributory Firms Updated Till Mar 6, Check Details
News 18Employees’ provident fund member accounts of 98% of contributory firms or establishments have been updated with the latest interest credit till March 6, 2023, Parliament was informed on Monday. “This is an ongoing process, which has been taken up in a scheduled manner post development of software and by March 6, 2023, the process has been completed in respect of 98% of contributory establishments,” stated minister of state for labour and employment Rameshwar Teli in a written reply to the Lok Sabha on Monday. Till March 6, 2023, accounts of members of 98% of the contributory establishments have been credited with interest, Teli said, adding that this is an ongoing process, which is taken up in a scheduled manner without hampering the regular claim settlements. Teli explained that account updation with interest credit is a comprehensive exercise requiring scrutiny of each individual transaction made in respect of each and every individual member’s accounts, thus making the entire process very exhaustive.