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.

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EPFO Interest Rates Hike: Important news for PF account holders. The government has given a big statement regarding the increase in the interest rate on the PF account. Minister of State for Labor and Employment Rameshwar Teli has given a statement on any change in the interest rate on Employees’ Provident Fund (EPF) deposits for 2021-2022.

information given by the government

Actually, this question was asked to Rameshwar Teli whether the government is reconsidering increasing the rate of interest on Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate available on the PF account.

Higher interest than small savings schemes 

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this 

Rameshwar Teli has stated that the interest rate on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that the CBT and EPF have For 2021-22, 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time the interest on PF will be available at the rate of 8.10.

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Under which recently the Minister of State for Labor and Employment, Rameshwar Teli has said in the House not to make any change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Since then, it is being expected that a big decision can be taken.

Center made a big announcement

Actually, let us tell you that during the proceedings, Rameshwar Teli was asked in the House whether the government can consider increasing the rate of interest on the Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there will be no change in the interest rate on the PF account.

Higher interest than small savings schemes

Responding to this whole matter, Minister of State for Labor and Employment, Rameshwar Teli said that the interest rate of EPF is similar to other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

More than has already been placed. That is, according to Rameshwar Teli, the interest on PF from small savings schemes itself is high, so no consideration will be given to the interest rate hike. Let us inform here that the interest rate on EPF is being given at the rate of 8.10 percent, which will remain the same.

The post EPFO Interest Rates: Good News! The interest rate on PF is going to increase so much, the government made a big announcement first appeared on Rightsofemployees.com.

The government informed

Actually, this question was asked to Rameshwar Teli in the House whether the government is reconsidering to increase the rate of interest on Employees Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is no increase in the interest rate on the PF account.

Higher interest than small savings schemes

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has said that the interest rate on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that the CBT and EPF have For 2021-22, 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time the interest on PF will be available at the rate of 8.10.

The post EPFO Interest Rates Hike: Big information about increasing interest rate on PF, check update first appeared on Rightsofemployees.com.

Information given by the government

Actually, this question was asked to Rameshwar Teli in the House whether the government is reconsidering to increase the rate of interest on Employees Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate on PF account.

Higher interest than small savings schemes

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has said that the interest rate on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that the CBT and EPF have For 2021-22, 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time the interest on PF will be available at the rate of 8.10.

The post PF Interest Rates Increased: Government is going to increase the interest rate on PF! know here more details first appeared on Rightsofemployees.com.