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EPFO hikes interest rate on deposits to 8.25% from 8.15% for FY23-24
The Morning Standard
|February 11, 2024
THE Central Board of Trustees (CBT) of the Employees Provident Fund Organization (EPFO) has recommended an 8.25% rate of interest to its subscribers for FY2023–24.
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The total amount it recommended for the distribution is ₹1,07,000 crore to EPF members for FY 2023–24, as compared to ₹91,151.66 crore in the financial year 2022–23. The interest rate for fiscal year 2022–23 was 8.15%. This is the highest amount ever the board has recommended for distribution to its subscriber accounts.
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