EPFO Interest Rate: There is good news for PF Account Holders. The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has decided to increase the interest rates on the Employees’ Provident Fund. EPFO has increased the interest rate on Employees’ Provident Fund from 8.10 per cent to 8.15 per cent. This decision has been taken in the two-day CBT meeting going on from Monday. It was expected that the employees could get more good news in the meeting.
EPFO Interest Rate: PF interest rates hike
According to reports, after a two-day meeting of the EPFO’s Central Board of Trustees (CBT), it was decided to increase PF interest rates by 0.05 per cent. After the decision of the CBT, the rate of interest on EPF deposits for 2022-23 will be sent to the Finance Ministry for concurrence. After getting approval from the government, the interest on deposits in EPFO for the year 2022-23 will be deposited in the accounts of more than five crore consumers.
In the last financial year its interest rate was 8.10 per cent, which was the lowest in 40 years after 1977-78. Which has now increased to 8.15 percent. Earlier, the lowest PF interest rate was 8 per cent in 1977-78. The CBT had decided in March 2021 at 8.5 percent interest rate on EPF deposits for 2020-21. Let us tell you that last year EPFO had a good earning. That’s why this time an increase in interest rates was expected. Now more than 7 crore account holders of EPFO will get 8.15 percent interest.
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