EPFO Interest Rate: Good news! EPFO hikes interest rate on employees’ provident fund to 8.15 percent for 2022-23
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EPFO’s income has increased
Last year has been very good for the Employees’ Provident Fund Organization (EPFO) in terms of earnings. EPFO’s income has increased. Explain that EPFO invests your funds in many places. From where he gets returns. Through this earning, EPFO gives you interest on investment. This time many reasons were being given behind increasing the interest rates. It was expected in the media reports that this time the interest rates could be increased to 8.20 per cent. At the same time, the possibility of keeping the interest rates stable was also being expressed.
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Interest was reduced last time
Let us inform that EPFO had reduced the interest rate last time. This came as a shock to the employees. EPFO had reduced the interest rate from 8.5 per cent to 8.1 per cent. This was the lowest interest rate in the last 40 years. In the year 1977-78, EPFO gave 8% interest. Since then the interest rate has been 8.25 per cent or more.
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