EPFO Interest Rate: How much interest will be received on EPF, rate will be discussed in today’s meeting – epfo interest rate key meet today to decide 22-23 epf rate

New Delhi: The meeting of the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organization (EPFO) will be held from today i.e. Monday. This meeting will last for two days. A decision can be taken regarding the interest rate in this meeting. This will end the wait of seven crore active members of EPFO ​​to know the interest rate on their EPF savings. The interest rates are decided in the CBT meeting held in March every year. In March 2022, the government announced an 8.1% EPF rate for 2021-22, the lowest in 40 years since 1977-78. It is believed that this time EPFO ​​can maintain the interest rates at the same level as last year. The total investment of Employees’ Provident Fund Organization (EPFO) till March 31, 2022 was Rs 11 lakh crore. Apart from the announcement of interest rates, the meeting assumes significance as pension fund managers will present a status note on the Supreme Court’s November 4, 2022 judgment regarding pension on higher wages. This is an issue that has caused a lot of resentment among current and past pensioners.

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Earlier, the meeting was held on 31 October 2022 last year. In this meeting, it was decided to extend the benefits of proportionate pension to the members involved in this scheme for 34 years. The withdrawal facility was also given to the members who were employed for less than six months in the meeting. Let us inform that the meeting of the Central Board of Trustees was going to be held in January this year, but later it was postponed. In this meeting starting from today, there can be a discussion on the proper implementation of the order of November 4 of the High Court. At the same time, the problems faced by the retired people in using the pension portal can also be discussed.

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The government may present an action taken report in view of the Supreme Court order and give information about the steps taken in this regard. As per the audited annual accounts of FY21, there was a decline in the contribution of schemes to pension funds as compared to FY20.