Interest Rate on PF: Earlier in the financial year 2022-23, EPFO had fixed the interest rate for PF account holders at 8.15 percent. In this way, now PF account holders are going to get 0.10 percent more interest than a year ago…
Employees Provident Fund Organization (EPFO) has finalized the new rate of interest on PF. PF account holders are going to get interest at the rate of 8.25 percent on their PF money for the financial year 2023-24.
Interest on PF has increased so much
News agency PTI has quoted sources as saying that for the financial year 2023-24, PF account holders are going to get higher returns on the money kept in the PF account. Earlier, PF account holders had received interest at the rate of 8.15 percent in the financial year 2022-23 and at the rate of 8.10 percent in 2021-22. This means that for 2023-24, PF account holders are going to get 0.10 percent more interest than the year before.
CBT meeting is being held today
However, the latest interest rate on PF has not been officially announced yet. The Central Board of Trustees of EPFO decides at what rate of interest PF account holders will get for the financial year 2023-24. An important meeting of EPFO’s CBT is being held today, in which a decision is expected to be taken regarding interest on PF. Official information about the interest rate on PF will be given later by the Labor Ministry.