New Delhi, May 24 (IANS). The Center has approved 8.25 percent interest rate on the Employees Provident Fund (PF) deposit for FY 2024-25. This interest rate has been kept the same as the previous financial year.
In February, the Employees Provident Fund Organization (EPFO) had announced to retain the interest rate on the Employees Provident Fund deposit at 8.25 percent for the financial year 2025.
The decision was taken by the Central Board of Trustee of EPFO at a meeting in the national capital.
The Finance Ministry has now approved 8.25 percent interest rate on employees’ PF for FY 2025.
According to reliable sources, a notification has also been sent by the Ministry of Labor this week to the retirement fund body.
The interest rate on EPF for 2024-25 will be deposited in the accounts of EPFO members.
The EPFO had earlier raised the interest rate on EPF for its 7 crore members from 8.15 percent to 2023-24 in 2022-23 to 8.25 percent.
Meanwhile, EPFO added 1.15 percent increase in net parole edition as compared to March 2024 in March.
The PF organization nominated around 7.54 lakh new customers in March 2025, showing a 2.03 percent growth compared to February and a 0.98 percent increase on an annual basis compared to March 2024.
According to the Ministry of Labor, the credit for the growth of new customers can be credited to increasing employment opportunities, increasing awareness about employee benefits and successful outreach programs of EPFO.
An important aspect of data is dominated by the 18-25 age group, as 4.45 lakh new customers were added to the 18-25 age group, which is 58.94 percent of the total new customers added in March 2025.
In addition, the NET payroll edition for the age group of 18–25 in March was around 6.68 lakhs, showing an increase of 6.49 percent in March 2024 as compared to the previous year.
-IANS
SKT/ABM
