After getting the government’s approval, interest money will come to the account
The EPFO (Employees Provident Fund Organization) has decided to maintain an interest rate of 8.25 percent on the Employees Provident Fund (EPF) deposit for FY 2024-25 on Friday. In February 2024, EPFO increased the interest rate on EPF from 8.15 percent to 8.25 percent in FY 2022-23 to 8.25 percent for FY 2023-24. The EPFO had brought interest on EPF to 8.1 percent at 8.1 percent for the financial year 2021-22 for more than seven crore members in March 2022, which was 8.5 percent in FY 2020-21.
EPF interest rate was 8.10 percent for 2020-21
EPF was 8.10 percent interest rate for FY 2020-21. This is the lowest since 1977–78, when the EPF interest rate was 8 percent. A source said, “The Central Board of Trustee (CBT), the highest decision-making organization of EPFO, has decided to pay 8.25 percent interest on EPF for FY 2024-25 on Friday.”
After getting the government’s approval, interest money will come to the account
The 8.5 percent interest rate on EPF deposit for FY 2020-21 was decided by CBT in March 2021. Following the CBT decision, the interest rate on EPF deposit for 2024-25 will be sent to the Finance Ministry for consent. Following the government’s approval, the interest rate on EPF for 2024-25 will be deposited in the accounts of more than seven crore members of EPFO. The EPFO provides interest rate only after approval by the government through the Ministry of Finance.
In December 2024, EPFO pairs 16.05 lakh new members
Let us tell you that EPFO has pure 16.05 lakh new members in December 2024. This is 9.69 percent higher than November 2024. This information was received from EPFO data about employees on regular salary. The increase in the number of people joining EPFOs means that jobs have increased in the organized sector. The Labor Ministry said in a statement that the number of people at regular salary is 2.74 percent more than December 2023.
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