EPF Rate Hike: Employee Provident Fund Organization (EPFO) said that the Central Government has notified 8.25 percent EPF rate for the financial year 2023-24. EPFO has given this information on social media platform X. EPFO wrote in its post that the interest declared on Employee Provident Fund is the highest in recent years and is higher than the interest rates of all other small savings schemes, GPF and PPF.
Employee Provident Fund Organization wrote on According to EPFO, generally after the end of the financial year, the interest rate of EPF is declared in the first quarter of the next financial year.
Attention EPF Members
The rate of interest for the Financial Year 2023-24 @ 8.25% for EPF members has been notified by the government in May of 2024. @LabourMinistry @mygovindia @MIB_India @PIB_India #EPFO #InterestRate #EPFO #HumHainNaa #EPFOwithYou #EPFO
â EPFO ââ(@socialepfo) July 11, 2024
EPFO said, the interest declared on EPF for the financial year 2023-24 is the highest in recent years so that EPF members can get more benefits. According to EPFO, the interest rate declared on EPF is higher than the interest rates available on small savings schemes, GPF and PPF.
Generally rate of interest is declared after end of Financial Year (FY) in first quarter of ensuing FY.
This is the highest interest rate declared in recent years for better benefit to members & is significantly more than all other small scale savings, GPF & PPF interest rates.â EPFO ââ(@socialepfo) July 11, 2024
On February 10, 2023, the Central Board of Trustees had announced 8.25 percent EPF rate for the financial year 2023-24.
