EPFO Interest Rate: The government has increased the interest rate of PF for the financial year 2022- 2023. It has been increased to 8.15 percent. A year ago i.e. in the business year 2021-22 it was 8.10 percent.
Now a new update has come on this. Labor Minister Bhupendra Yadav told CNBC Awaaz that the proposal to increase the interest rates on EPF for the year 2022-23 has been sent to the Finance Ministry. He further told that we are waiting for the green signal from the Ministry of Finance as soon as the approval is done.
If you do a job, then some part of your salary would also go to the Employees Provident Fund Organization (EPFO). 12% of your basic salary and DA goes to EPF and the same amount is also deposited by your company.
The Labor Minister says that 30 crore unorganized sector people have been registered on the e-Labour portal. This has become possible because of Jan Dhan Aadhaar and mobile revolution. In the last 9 years, there was an increase in employment of around 1.25 crore. Ensuring social security for the working class is a priority. Along with giving security to women at the working place, many facilities and benefits were given.
