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The stock market has continued to fall drastically for the last 7 days. Due to this, the lines of concern on the foreheads of investors have started increasing. Crores of millions of people have been drowned in the stock market so far. In such a situation, a big relief has been given by the government. The government has maintained interest rates on the Employees Provident Fund Organization (EPFO) as before. There has been no change in it. This means that your stock market should not have earning, but there will be good income on the money deposited in PF.

Sources have been quoted as saying that EPFO ​​has retained 8.25 percent interest rate on the Deposit of Employees Provident Fund (EPF) for 2024-25. The EPFO ​​has retained the interest rate at a time when the stock market is steadily declining. EPFO has also used a portion of its fund to earn the market.

EPFO rates have increased earlier also

Earlier, the Employees Provident Fund Organization (EPFO) had reduced the interest rate on EPF to 2023-24 in February 2024 to 8.25 percent. Whereas in 2022-23 this interest rate was 8.15 percent. In March 2022, EPFO ​​had reduced the interest rate for more than seven crore subscribers to 8.1 percent. This interest rate fixed for FY 2021-22 was then the lowest level of 40 years. This was the lowest interest rate since 1977-78. Earlier in 2020-21 this interest rate was 8.5 percent.

CBT's big decision

The highest unit to decide about EPFO ​​is Central Board of Trustees (CBT). In its meeting on Friday, CBT has decided to pay 8.25 percent interest on EPF for 2024-25. Following the CBT decision, the interest rate on EPF deposits for 2024-25 will be sent to the Finance Ministry for consent.

After getting approval from the Finance Ministry, the interest rate on EPF for 2024-25 will be deposited in the account of more than seven crore subscribers of EPFO. The EPFO ​​collects interest only after getting approval from the government through the Ministry of Finance.