Government confirms 8.15 percent interest rate on Employees Provident Fund for 2022-23
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The Employees’ Provident Fund Organization (EPFO) had on 28 March 2023 decided to pay interest at the rate of 8.15 per cent on Employees’ Provident Fund (EPF) deposits for 2022-23.
New Delhi. The government has confirmed 8.15 percent interest rate on deposits under the Employees’ Provident Fund Scheme for the financial year 2022-23. The Employees’ Provident Fund Organization (EPFO) had on 28 March 2023 decided to pay interest at the rate of 8.15 per cent on Employees’ Provident Fund (EPF) deposits for 2022-23. Thus EPFO marginally increased the interest for its over six crore members from 8.10 per cent earlier.
The EPFO has asked its regional offices to credit the interest on EPF at the rate of 8.15 per cent for 2022-23 into members’ accounts, according to an official order issued on Monday. The order came after the finance ministry agreed on the interest rate. Now the regional offices of EPFO will credit the interest in the account of the subscribers. EPFO has reduced the interest rate on EPF deposits to 8.10 percent for 2021-22 in March 2022. This was the lowest interest rate since 1977-78, when the EPF interest rate was eight per cent.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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