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EPFO retains 8.25% rate on PF deposits for 2024-25
28 Feb 2025

The Employees's Provident Fund Organization (EPFO) has retained an interest rate of 8.25% on employees' provident fund deposits for the fiscal year 2024-25.

The decision was taken by EPFO's highest decision-making body, the Central Board of Trustees (CBT), during a meeting on Friday.

The final rate will now be sent to the Ministry of Finance for approval.

EPFO's interest rate decision disappoints subscribers
Subscriber reaction

The decision to maintain last year's interest rate on EPF deposits at 8.25% for 2024-25, however, has disappointed some EPFO subscribers.

Many were hoping for a hike in the rate amid the prevailing economic challenges and rising inflation rates.

The decision comes after a marginal hike in the interest rate from 8.15% in 2022-23 to 8.25% for 2023-24.

EPFO's interest rate history and future discussions
Rate history

Notably, the current interest rate on EPF deposits is much lower than the 8.8% offered in 2015-16.

Since then, the EPFO has been gradually cutting the deposit rate for its millions of subscribers. There was a major cut in this rate during the COVID-19 pandemic.

The CBT is also likely to discuss other matters concerning EPF members, including a review of higher PF pension after a Supreme Court order and proposals on the Employees Deposit Linked Insurance Scheme (EDLI).