EPFO sets interest rate at 8.15 per cent on Provident Fund

New Delhi : This central board of trustees of Employee Provident Fund Office have announced a fixed 8.15% interest rates on Provident Fund for the fiscal year 2022-23.

The decision was taken at the 233rd meeting of these Central Board of trustees held in Delhi on Tuesday. The meeting held and the chairmanship of Bhupendra Yadav, Union Minister for Labour and Employment and Environment, Forest and Climate Change.

It has been learned that the interest rate of 8.15% has been decided to safeguard the surplus as well as the guarantee to increase the income of the Members. It must be noted that both the rate of interest at 8.15% and the surplus of ₹663.91 crore are higher than the last year.

The decision will be affecting around 6 crore active EPFO subscribers in the nation.

For those who are not aware, EPFO had declared an interest rate of 8.1% in the fiscal year 2021 22, which was the lowest interest rate ever announced in the 4 decades.