EPFO Fixes Interest Rate For Employees' PF At 8.25% For 2023-24
1 year, 1 month ago

EPFO Fixes Interest Rate For Employees' PF At 8.25% For 2023-24

ABP News  

The Employees’ Provident Fund Organisation fixed the interest rate on employees’ provident fund at 8.25 per cent for 2023-24, media agency reported citing anonymous sources. Earlier in March 2023, the retirement fund body increased the interest rate on EPF marginally to 8.15 per cent for 2022-23, while the same stood at 8.10 per cent in the preceding 2021-22 period. Notably, the decision to fix the interest rate for 2023-24 at 8.25 per cent was taken by the retirement fund authority’s apex body, the Central Board of Trustees. Earlier in the 2013-14 and 2014-15 period, the retirement fund body set the interest rate higher at 8.75 per cent, while the rate stood at 8.5 per cent in 2012-13.

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