The Centre has ratified the rate of interest at 8.15 per cent rate on deposits beneath the Employees Provident Fund scheme for the monetary yr 2022-23.
On March 28 this yr, retirement fund physique EPFO had marginally raised the interest rate on workers’ provident fund (EPF) deposits to 8.15 per cent for 2022-23 for its over 6 crore subscribers.
According to an official order on Monday, the EPFO has requested the filed places of work for crediting the interest at 8.15 per cent on EPF for 2022-23 into the accounts of members.
The order got here after the finance ministry’s concurrence to the EPF rate of interest accepted by EPFO trustees earlier in March this yr.
Now the EPFO subject places of work will begin the method of crediting the web into subscribers’ accounts.
In March 2022, Employees’ Provident Fund Organisation (EPFO) had lowered the interest rate on EPF deposits for 2021-22 to a four-decade low of 8.10 per cent from 8.5 per cent in 2020-21.
This was the bottom since 1977-78, when the EPF interest rate stood at 8 per cent.
(With PTI inputs)
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