EPFO Interest Rate: There is good news for crores of salaried people in the country. Retirement body EPFO has retained the interest rate of 8.25 percent on the Employees Provident Fund. Earlier, EPFO had increased the interest rates to 8.25 percent in February 2024, before this the interest rate was 8.15 percent.
According to the information received by CNBC TV18 from sources on the EPFO board meeting, the Employees Provident Fund Organization (EPFO) has fixed the interest rate at 8.25% for the financial year 2024-25. This decision was taken during the meeting of the Central Board of Trustees (CBT) on 28 February.
Interest rates reduced from 8.65 to 8.25
In March 2022, EPFO reduced the interest on EPF for 2021-22 for its more than seven crore subscribers from 8.5% in 2020-21 to 8.1%. According to a CNBC report, the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, in its meeting on Friday decided to provide an 8.25% interest rate on EPF for 2024-25.
The 8.1% interest rate on EPF for 2020-21 was the lowest since 1977-78 when the EPF interest rate was 8%. In March 2020, the EPFO reduced the interest rate on provident fund deposits to a seven-year low of 8.5% for 2019-20, while an 8.65% interest rate was provided for 2018-19.
Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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