EPFO RETAINS Interest Rate on Employees’ Provident Fund Deposits Know All About It – Amar Ujala Hindi News Live

EPF will send interest rate on deposit to Finance Ministry for consent

A source associated with the EPFO ​​said, “The Central Board of Trustee (CBT), the top decision-making organization of the EPFO, has decided to pay 8.25 percent interest on EPF for 2024-25 on Friday.” CBT fixed 8.5 percent interest on EPF deposit for 2020-21 in March 2021. Following the CBT decision, the interest rate on EPF deposit for 2024-25 will be sent to the Finance Ministry for consent.

Interest rate will be deposited in the accounts of more than seven crore customers

After the approval of the government, the interest rate on EPF for 2024-25 will be deposited in the accounts of more than seven crore customers of EPFO. The EPFO ​​provides interest rate only after approval by the government through the Ministry of Finance. In March 2020, EPFO ​​reduced the interest rate on provident fund deposit to 8.5 percent for 2019-20 to 8.5 percent, which was 8.65 percent for 2018-19.

EPFO provided 8.65 percent interest rate to its customers in 2016-17 and 8.55 percent in 2017-18. In 2015-16, the interest rate was slightly higher i.e. 8.8 percent. The retirement fund body paid 8.75 percent interest in 2013-14 and 2014-15, which was more than 8.5 percent in 2012-13. The interest rate in the year 2011-12 was 8.25 percent.

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