The Central Board of EPF recommended an annual rate of interest of 8.25% to be credited on EPF accumulations in members’ accounts for the financial year 2023-24. This interest rate will be officially notified in the government gazette after approval by the Ministry of Finance. Subsequently, EPFO will credit the approved rate of interest into its subscribers’ accounts.
The Board has recommended a distribution of historic income amount of Rs. 1,07,000 crores to EPF members’ accounts on a total principal amount of about Rs. 13 lakh crores, which was Rs. 91,151.66 crores and Rs. 11.02 lakh crores in the financial year 2022-23, respectively.
The 235th meeting of Central Board of Trustees, EPF was held on 10th February 2024 in Delhi.
