There is a big change in the interest rate of EPFO, now you can get this much return on PF

The new rate of interest has been finalized by the Employees Provident Fund Organization (EPFO), which account holders will get on PM. Giving relief to PF account holders, EPFO ​​has now decided to give 8.25 percent interest for the financial year 2023-24.

The Employees’ Provident Fund Organization (EPFO) on Saturday increased the interest rate on Employees’ Provident Fund (EPF) deposits to 8.25 percent for 2023-24. The special thing is that this rate is the highest in the last three years. EPFO had marginally increased the interest rate on EPF for 2022-23 to 8.15 percent in March 2023 from 8.10 percent in 2021-22. In March 2022, EPFO ​​had reduced the interest rate on EPF for 2021-22 to 8.1 percent, which was the lowest in four decades. The interest rate on EPF was 8.5 percent in 2020-21.

“The apex decision-making body of EPFO, ‘Central Board of Trustees’ (CBT), in its meeting on Saturday, has decided to provide 8.25 per cent interest rate on EPF for 2023-24,” a source said. After the decision, the decision regarding interest rate on EPF deposits for 2023-24 will be sent to the Finance Ministry for approval. After the approval of the government, the interest rate on EPF for 2023-24 will be credited to the accounts of more than six crore subscribers of EPFO. This year account holders will get 0.10 percent more interest.

Trustees meeting is also taking place

A meeting of the Board of Trustees of EPFO ​​is also being organized. This is the 235th meeting of the board. The agenda regarding interest rate can be included in this meeting. In the meeting of the Trustee Board of EPFO, the decision on increasing the interest rate in view of inflation can be finalized. Employed people will benefit from this decision.