EPF Interest Rate 2022-23: Employees’ Provident Fund Organization ( EFFO ) has increased the interest rate on Employees’ Provident Fund (EPF) for 2022-23. According to the information, now the interest rate on Employees Provident Fund (EPF) has been increased to 8.15 percent.
Yesterday i.e. on Monday, the two-day meeting of Employees’ Provident Fund Organization ie EPFO started, which ended today i.e. on Tuesday. In its two-day meeting, EPFO has announced to increase the interest rate on Employees’ Provident Fund (EPF) for 2022-23 for its subscribers.
Now after the decision of CBT, the interest rate information on EPF deposits for 2022-23 will be sent to the Finance Ministry for approval. After getting the approval of the government, the interest rate on EPF for 2022-23 will be transferred to the accounts of more than five crore account holders of EPFO.
In March 2022, EPFO reduced the interest rate on EPF (Employees’ Provident Fund) of its nearly five crore subscribers for 2021-22 to a low of more than four decades to 8.1 percent. This rate was the lowest since 1977-78, when the interest rate on EPF used to be eight percent. In 2020-21, this rate was 8.5 percent.
Let us tell you that in March 2020, EPFO had reduced the interest rate on provident fund deposits to a seven-month low of 8.5 percent. For 2018-19 it was 8.65 percent.
The Central Board Trustees (CBT) EPF recommends 8.15 % rate of interest to EPF subscribers for FY2022-23
The interest rate would be officially notified in the government gazette after approval of Ministry of Finance
Read here: https://t.co/2270xMdn7a@LabourMinistry
— PIB India (@PIB_India) March 28, 2023
Last day a source said, “The decision regarding the interest rate on EPF for 2022-23 (EPF interest rate 2022-23) will be taken by the Central Board of Trustees (CBT), the apex decision-making body of the Employees’ Provident Fund Organization from Monday afternoon.” Can be taken in the starting two-day meeting.” Apart from this, the order given by the Supreme Court to give four months time to the central employees to apply for higher pension option. What action has been taken by EPFO on that, this can also be discussed in the meeting.
EPFO has given a deadline of May 3, 2023 (EPFO Higher Pension EPS Deadline) for applying to its subscribers who want to get more pension. After opting for EPFO Higher Pension Scheme 2023, the pension of EFFO subscribers will increase.
