Indians are fully conscious of the fact that the Employees Provident Fund (EPF) is an important long-term savings tool. Two key aspects to understand about a PF balance check are the way to check it to keep track of your retirement funds and financial planning. Nonetheless, the common issue with EPF subscribers is that when the phone number they have registered is not updated on EPFO portal, they fail to retrieve their account. Such a problem may slow down the possibility of accessing the PF account via the internet or OTPs to verify the account. In this paper, we discuss step-by-step procedures to verify your PF balance without an updated phone number. Together with this, we explain why you should know PF meaning and effective fund management knowledge is needed particularly when supplementing your savings with one of the options such as Bajaj Finance FD.
Knowledge about PF meaning and meaning in relation to employees.
One should know the meaning of PF before going into the process of checking your PF balance. The Provident Fund is a social security program that is administered by the government and requires both an employer and employee to provide a set percentage of the monthly salary as a contribution to a fund. It is a fund that builds up with an interest and serves as a retirement security stock to individuals.
To maintain transparency in making contributions, interest accruals and withdrawals the employees are expected to maintain regular record of their PF balance. Monitoring assists in identifying any discrepancies or delays by the employer. In addition, awareness on your PF balance will allow you to act on your finances more wisely and think of investment options such as Bajaj Finance FD that has competitive rates and is not backed fully on provident fund savings.
PF balance check needs update of phone number.
The phone number serves as an essential way of identification when employees open their PF accounts. It is used for:
– The production of One-Time Passwords (OTP) to perform authentication.
– Mailing transmission notices and updates on the PF account.
– Use of online services using EPFO portals and mobile applications.
In case the EPF account has a phone number that is not up to date, you might encounter problems with OTPs to log in or check your balance in the PF. This has been a frustration many times and a waste of time in getting access to important financial information. Though, it is good to be informed that there exist several options that EPFO users can use to know the balance in their PF without necessarily relying on the registered mobile numbers.
How to check PF balance without renewed phone number.
1. View PF balance by UAN portal with the help of UAN and password.
Universal Account Number (UAN) is a personal identification number assigned to any subscriber of EPF. You can directly enter the EPFO member portal with your UAN and your password without verification of the phone number to make basic login. Follow these steps:
– Visit the EPF member portal
– Please, use your UAN and password to log in.
– Click on the View>Balance.
– The details of your EPF account such as current balance will show.
In case you have lost your password, you may use your phone number to reset your password. Other recovery solutions or offline procedures are useful in such situations.
2. Check balance on PF using missed call service.
EPFO also provides a missed call service where you can easily check the balance of your PF by using your UAN number without using OTPs or phone authentication.
– Place a missed call using the phone number that you have registered on your EPF account 011-22901406 (unless the number is updated, use other methods)
– You will get an SMS on your balance in PF and last contribution.
This method may not however work in case your phone number is changed. Instead, tick the following box.
3. Use Umang app to use PF services without updated number.
Umang is an app that enables one to complete various government services, such as checking the balance in their PF, which is offered by the Government of India.
– Open and use the Umang application in the Play Store or App Store.
– Check your balance in UAN and Aadhaar without the need to use the registered mobile number in OTP through the EPFO module.
– Type in the required credentials.
The application can be handy in the scenario when your phone number has been changed but you are still associated with Aadhaar and UAN.
4. Go to EPFO office and update phone number and check balance.
In case you cannot check your balance online immediately, it is better that you visit the closest EPFO office. Here you can:
– Personally update your phone number by filling in a request form with some identification proof.
– Ask someone to help you check your PF balance or download your passbook.
This method is also time-consuming, but it is good to those who cannot access the technical information to update the details on the internet.
5. Use human resource of employer to help.
Employers also manage your PF contributions, so your HR can be used to update your phone number or they can give you the information on how much you have saved in your PF. They routinely get access to the EPFO employer portal or consolidated PF statements.
Advantages of diversifying your PF savings using Bajaj finance FD.
As EPF is a reliable long-term savings plan, it is necessary to diversify your financial portfolio to minimize the risk and maximize returns. Bajaj Finance FD provides a great solution to both the pensioners and the salaried individuals.
Some advantages include:
– Attractive interest rates: Bajaj Finance FD provides interest rates of up to 7.30 p.a. on a tenure of 24 to 60 months period which is considerably higher than the traditional bank FD.
– flexible tenures: 12 months to 60 months: Select the tenure according to your financial objectives.
This is appropriate to different income requirements with monthly, quarterly, half yearly or at-maturity interest payouts.
To take a case in point, a senior citizen who invests 15 to 23 months in a FD by Bajaj Finance with an investment of 1, 00,000 shall receive an interest of 7.10% p.a. on maturity which will substantially contribute to the retirement corpus in addition to EPF savings.
Even the non-senior citizens are given attractive rates up to 6.95 p.a. on such tenures and this is a very wise choice to middle-class investors.
How to invest in Bajaj Finance FD after checking your PF balance
Once you have checked your PF balance and understand your existing retirement corpus, consider allocating an optimum portion to fixed deposits like Bajaj Finance FD for better liquidity and returns.
Steps to invest:
– Visit the official Bajaj Finance website or nearest branch
– Select fixed deposit tenure based on your financial horizon
– Complete the application, submit KYC documents, and make payment
– Monitor your FD account online using Bajaj Finance customer portal or app
Pairs well with your provident fund, this approach ensures a balanced and efficient retirement investment portfolio.
Conclusion
Regular PF balance check not only helps employees keep track of their retirement funds but also encourages proactive financial management for the future. Although an inactive or outdated phone number linked to the PF account complicates online access, various alternatives such as the UAN portal, Umang app, and offline updates remain effective solutions.
Understanding PF meaning and ensuring that your provident fund contributions are intact is the primary step towards financial security. Complementing your provident fund with investments like Bajaj Finserv FD allows you to take advantage of competitive FD rates and diversify your savings for higher returns.
Whether you are a senior citizen enjoying higher interest rates of up to 7.30% p.a. or a non-senior investor seeking stable income, Bajaj Finance FD offers a trustworthy platform that you can count on. Remember to keep your contact details updated to enjoy seamless access to all online PF services and manage your money with confidence.
