The Employees’ Provident Fund Organisation (EPFO) has chosen to keep the EPF interest rate at 8.25 per cent for the 2024-25 financial year, according to a PTI report citing sources. In February 2024, EPFO had increased the rate to 8.25 per cent for the 2023-24 period, up from 8.15 per cent in 2022-23.
The interest rate will be credited to over seven crore subscribers once it receives approval from the Finance Ministry.
The retirement fund body had previously increased the interest rate to 8.25 per cent for 2023-24, up from 8.15 per cent in 2022-23. In March 2022, the EPF rate was reduced to a four-decade low of 8.1 per cent for 2021-22. The highest recent rate was 8.65 per cent in 2018-19, with a gradual decline in subsequent years.
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