EPFO retains 8.25% interest rate on employees' provident fund deposits for 2024-25: Report
By : Sandhya
The interest rate on deposits made into employees' provident funds (EPFs) has not altered from 8.25% for 2024–2025. Over seven crore subscribers' EPF accounts are managed by the Employees' Provident Fund Organization (EPFO), which raised the EPF interest rate from 8.15% in 2022–2023 to 8.25% in 2023–2024.
In March 2022, the organization reduced the interest rate to 8.1% for 2021–2022. Since 1977–78, when the rate was 8%, this was the lowest. In 2020–21, the interest rate was 8.5%.
"At its meeting on Friday, the Central Board of Trustees (CBT), the highest decision-making body of the EPFO, decided to offer an 8.25 percent interest rate on EPF for 2024–2025''. The proposal would be forwarded to the Union Ministry of Finance for approval following CBT's decision to maintain the interest rate at its current level. Only with the government's consent will the interest amount be credited to the employees' provident fund accounts.