New Delhi: The Employees’ Provident Fund Organisation (EPFO) has decided to maintain the interest rate at 8.25% for the financial year 2024-25, the same as the previous year. The decision was taken during a Central Board of Trustees (CBT) meeting on Friday, according to EPFO sources.
The proposal will now be sent to the Union Finance Department for approval. Once cleared, the EPFO will officially notify the interest rate, and the interest amount will be credited to the accounts of over 7 crore subscribers.
The EPF interest rate had been reduced to 8.1% for 2021-22, marking the lowest rate since 1977-78. However, it was slightly increased over the past two years before being held steady at 8.25%. The final approval from the Finance Ministry is expected soon.
With stable interest rates, the EPF remains a crucial retirement savings option for salaried employees, ensuring consistent returns on investments.
