EPFO Latest News: The Government of India has given many facilities to the middle class in this budget. In Budget 2025, the government has made many announcements and promises for the middle class.
After the tax exemption, now the government can take a big decision regarding the interest rate of Employees Provident Fund (PF). The meeting of the Central Board of Trustees of EPFO is going to be held on 28 February, in which there can be a discussion on increasing the interest rate on PF for 2024-25.
The official agenda of this meeting has not been released yet. At the same time, this meeting will be chaired by the Union Labor Minister and representatives of employer associations and trade unions will also attend it.
PF interest rate may increase
The main focus of the Government of India at this time is to increase the demand in the market and many steps are being taken for this. After not taking tax on income up to 12 lakhs, the government wants people to increase domestic consumption as much as possible by increasing their additional income. In such a situation, it is being speculated that the interest rate on PF for 2024-25 can be increased.
EPFO has so many account holders
The government did the same in the last two years. The interest rate of PF was made 8.15% in 2022-23 and 8.25% in 2023-24. Now looking at the base rate of banks, it can be said that there may be a slight increase in the interest rates of PF. Let us tell you that EPFO has accounts of more than seven crore people in the country. At the same time, according to the annual report of the year 2023-24, EPFO has seven crore 37 lakh account holders. Apart from this, the number of people depositing money in the pension fund of EPFO has also increased to about eight lakh.
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