May 24, 2025 03:28 pm IST
On 28 February, EPFO decided to maintain an interest rate of 8.25 percent on the provident fund (EPF) of employees for the financial year 2024-25.
The government has confirmed the rate of interest at the rate of 8.25 percent on the future funds of employees for FY25, which is capable of depositing annual interest accumulation in the post -retirement fund of more than 7 crore customers, the retirement fund body EPFO.
On 28 February, EPFO decided to maintain an interest rate of 8.25 percent on Provident Fund (EPF) deposits of employees for the financial year 2024-25 for the previous FY 2024-25, which is equal to the rate provided in the predecessor financial. The sanctioned rate of interest for 2024-25 was sent for the consent of the Ministry of Finance.
A Labor Ministry official told PTI, “The Finance Ministry has agreed for 8.25 percent interest rate on EPF for the 2024-25 financial year and the Ministry of Labor has sent a communication to EPFO on Thursday.”
Now the interest amount will be deposited in the accounts of seven crore customers of EPFO as per the confirmed rate for FY25.
The decision on the interest rate was taken in the 237th meeting of the Central Board of Trustees of EPFO under the chairmanship of the Union Minister of Central Labor and Employment Mansuh Mandavia in New Delhi on 28 February.
Compared to many fixed income devices, EPF provides relatively high and stable returns, which ensures stable growth on post -retirement savings.
In February 2024, EPFO increased the interest rate for 2023-24 to 8.25 percent for 2023-24, from 8.15 percent in 2022-23.
In March 2022, EPFO reduced interest on EPF for 2021-22, which ranged from 8.5 percent to 8.1 percent in 2020–21 to more than 8.1 percent.
The rate of 8.10 percent interest on EPF for 2020-21 was the lowest after 1977-78, when it was 8 percent.
