Feb 28, 2025 12:46 PM IST
EPFO had raised the rate of interest on EPF from 8.15% in 2022-23 to eight.25% in 2023-24.
The rate of interest on workers’ provident fund (EPF) deposits has remained unchanged at 8.25% for 2024-25, PTI reported. The Workers’ Provident Fund Organisation (EPFO), which manages the EPF accounts of over seven crore subscribers, had elevated the EPF rate of interest from 8.15% in 2022-23 to eight.25% in 2023-24.
EPFO has reportedly set an rate of interest of 8.25% on EPF deposits for 2024-25, PTI reported.(HT Photograph)
The organisation lowered the rate of interest to eight.1% for 2021-22 in March 2022. This was the bottom since 1977-78, when the speed stood at 8%. The rate of interest for 2020-21 was 8.5%.
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“The EPFO’s apex decision-making body Central Board of Trustees (CBT) has decided to provide 8.25 per cent rate of interest on EPF for 2024-25 at its meeting on Friday,” a supply informed PTI.
After CBT’s determination to maintain the rate of interest unchanged, the proposal might be despatched to the Union Ministry of Finance for concurrence. The curiosity quantity might be credited to workers’ provident fund accounts solely after the federal government’s approval.
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The rate of interest had been at 8.65% for 2018-19, 8.55% in 2017-18, and eight.65% in 2016-17. The speed of curiosity was barely greater at 8.8 per cent in 2015-16. The retirement fund physique had given an 8.75 per cent price of curiosity in 2013-14 in addition to 2014-15, greater than 8.5 per cent for 2012-13.
The speed of curiosity was 8.25 per cent in 2011-12. Notably, between 1989-90 and 1999-2000, the EPF rate of interest was mounted at a secure 12%. It once more remained mounted at 8.50% between 2005-06 and 2009-10. It was hiked to 9.50% in 2010-11 earlier than being lowered once more the subsequent yr.
Really useful Matters Information / Enterprise / EPFO retains 8.25% rate of interest on workers’ provident fund deposits for 2024-25: Report
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