Employees’ Provident Fund (EPF) has credited the interest in the accounts of the members. The government told Parliament on Monday that by March 6, 2023, the interest of 98 percent shareholder firms has been updated.
Many members and representatives of employees raised the question of non-deposit of 8.1 per cent interest fixed on EPF for 2021-22 but the government said that their interest has been transferred.
Labor minister said this
Union Minister of State for Labor and Employment Rameshwar Teli said in a written reply to a question in the Lok Sabha on Monday that crediting of interest is a continuous process. After the development of this software, the work of transfer of interest has been done in the right way. He said that this process has been completed in respect of establishments which have contributed 98% by March 6, 2023.