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In February 2024, EPFO had reduced the interest rate to 8.25 percent for the financial year 2023-24, which was 8.15 percent in 2022-23. Read more on Dynamite News
Employees' Provident Fund Organisation (Image Source: Internet)
New Delhi: If you work and PF is deducted from your salary every month, then there is good news for you! The government has approved an 8.25% interest rate on EPFO for the financial year 2024-25. Meaning, this year also you will get the same interest as you got last year, and that too without any deduction, reports Dynamite News correspondent.
Now, after this decision of EPFO, interest will be credited to your PF account soon. Actually, on 28 February 2024, EPFO had decided that the interest rate would be 8.25%, and after that, this proposal was sent to the Finance Ministry, which has now been approved. More than 7 crore PF account holders will benefit from this decision.
This decision was taken in the 237th meeting of EPFO, which was chaired by Union Labor Minister Mansukh Mandaviya. This interest rate is very beneficial for those who are looking for a safe investment for post-retirement.
If we talk about EPF interest rates, it was 8.25% last year, while in 2022-23 it was 8.15%. However, in 2021-22 it fell to 8.10%, which was the lowest in four decades.
The network of EPFO is also growing. In March 2025, 1.46 lakh new members joined, out of which more than half of the people joined the PF scheme for the first time.
So, is EPF still the best investment? Yes, EPF not only saves tax but also gives good returns in the long run, that too without any risk. Especially when the returns of other fixed deposits and savings schemes are decreasing, the 8.25% interest of EPF is considered very attractive.
What is EPFO?
EPFO (Employees' Provident Fund Organisation) is a government body that manages and regulates the Employees' Provident Fund (EPF) in India. It's a retirement savings scheme for salaried individuals, where both employees and employers contribute a percentage of the employee's salary each month.
The funds accumulated over time earn interest and are credited to the employee's EPF account. EPFO also provides other benefits like pension, insurance, and housing loans to its members.
The organization ensures financial security after retirement, making it one of the most popular and trusted long-term investment options for employees in India.
