EPFO Interest Rates: There is good news for the subscribers of Employee Provident Fund Organization i.e. EPFO.
Union Labor Minister Bhupendra Yadav has given a statement that the Labor Ministry is working towards providing a total interest rate of 8.15 percent to PF members for the financial year 2023. Not only this, interest credit of 8.15 percent has also been given in total 24 crore accounts. He also said that his government is satisfied that the government’s steps regarding EPFO interest rate are in the right direction.
Cabinet Minister gave information on EPFO Foundation Day
On the 71st EPFO Foundation Day, the Union Labor Minister emphasized that the aim of the government is to transfer the Provident Fund amount to the accounts of the subscribers at the right time and with the right interest. The Cabinet Minister said that the total Provident Fund contribution in the year 2022-23 has been Rs 2.12 lakh crore, whereas in the previous year i.e. 2021-22, this amount was Rs 1.69 lakh crore.
EPFO’s Central Board of Trustees approved the annual report.
The 234th meeting of the Central Board of Trustees of EPFO was held on this Tuesday i.e. 31st October. In this meeting held in New Delhi, the Board approved the annual report of EPFO for the financial year 2022-23 and recommended it to the government to present it in Parliament.
This figure came in the EPFO report
The total investment fund of EPFO in the financial year 2022-23 has been Rs 21.36 lakh crore, which includes the amount of both pension and provident fund. Last year i.e. in the financial year 2021-22, this amount was Rs 18.3 lakh crore.
If we look at the total investment amount, it was Rs 13.04 lakh crore on March 31, 2023 and last year this figure was Rs 11 lakh crore. A total addition of Rs 2.03 lakh crore has been seen in the financial year 2022-23.