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The current EPF interest rate is 8.1%

epfo, provident fund, mutual fund, income, invest

Some portion of your salary is deposited into your Employees' Provident Fund Organisation (EPFO) account every month. Employees are entitled to receive this amount post retirement or after a certain period of time. The current EPF interest rate is 8.10%. However, it is subject to change.

If you wish to check your EPF account balance or the interest credited to your account, you can do so from the comfort of your home. The EPFO offers accountholders access to an e-passbook, which can be downloaded from the organisation’s official website.

What is EPF?

EPF is a mandatory savings scheme started under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. The employee and the employer contribute to the scheme on a monthly basis in equal proportion. The scheme covers all organisations in which 20 or more people are employed. At present, there are nearly 50 million EPFO subscribers.

On June 3, the Centre okayed an interet rate of 8.1% per annum on EPF deposits for 2021-22 -- an over four-decade low. In March, EPFO had decided to lower the interest rate on provident fund deposits for 2021-22 to 8.1% from 8.5% provided in 2020-21.

How to download EPFO e-Passbook?

•Visit the official EPFO website (https://passbook.epfindia.gov.in/MemberPassBook/Login).

•Enter your account details such as the Universal Account Number (UAN) and password, along with the captcha code.

•Then click on the ‘Login’ button.

•Select the relevant Member ID and your PF e-passbook will appear on the screen.

•You can also download the e-passbook in PDF format.

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In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre respectively. In Kolkata, petrol is Rs 106.03 and diesel is Rs 92.76 per litre.

India meets 80 percent of its oil needs through imports. Retail rates are adjusted according to the global movement in crude prices (Representative Image)

Fuel prices remain unchanged ever since the government on May 21 announced an excise duty cut on petrol by a record Rs 8 per litre and on diesel by Rs 6 per litre.

The cut translated into a reduction of Rs 9.5 a litre for petrol in Delhi and Rs 7 a litre for diesel. Petrol in Delhi now costs Rs 96.72 a litre as against Rs 105.41 a litre before, while diesel costs Rs 89.62 a litre as opposed to Rs 96.67 earlier.

In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre, respectively. In Kolkata, petrol is Rs 106.03, and diesel is Rs 92.76 per litre.

Oil marketing companies are passing on the excise duty cut to consumers despite losing Rs 13.08 a litre on petrol and Rs 24.09 per litre on diesel. India meets 80 percent of its oil needs through imports.

Due to low fuel prices for almost two months despite rising costs, oil companies are now detailing under-recoveries, which can reach Rs 17.1 per litre on petrol and Rs 20.4 on diesel. Oil minister Hardeep Singh Puri said on June 2 that fuel retailers have knocked on the government's doors asking for 'relief' but hastened to add that it is up to them to set prices.

UAE, one of the world's largest oil producers, has raised domestic fuel prices for the month of June amid a global surge in crude. A rate card issued by the Emirati government shows that the price of petrol has soared by more than 13 percent. One of the most widely used categories of fuel, Super 98 petrol, will now be sold at Dh4.15 per litre, 13.4 percent higher than last month's price. Prices for Special 95 petrol have been raised from Dh3.55 to Dh4.03 a litre, a 13.5 percent increase. Similarly, E Plus 91, another highly used category of gasoline on the country's domestic market, will now cost Dh3.96 a litre, up 13.8 percent compared to Dh3.48 in May. Diesel price is up 1.5 percent. A litre of the fuel will cost Dh4.14 against Dh4.08 in May, Reuters reported.

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Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

EPFO e-Passbook: How to download, check balance and other details

The current EPF interest rate is 8.1%

Fuel Prices on June 4: Check petrol, diesel rates in Delhi, Mumbai, and other cities

In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre respectively. In Kolkata, petrol is Rs 106.03 and diesel is Rs 92.76 per litre.

India meets 80 percent of its oil needs through imports. Retail rates are adjusted according to the global movement in crude prices (Representative Image)