EPFO retains 8.25% interest rate on employees' PF deposits for 2024-25

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EPFO retains 8.25% interest rate on employees' PF deposits for 2024-25 - Business Standard

Quick Summary:

Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2024-25, sources said.

In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over seven crore subscribers, from 8.5 per cent in 2020-21.The 8.10 per cent rate of interest on EPF for 2020-21 was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

In February 2024, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.