The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organization (EPFO) has proposed an 8.25% annual interest rate for the financial year 2023–24. The recommendation came during the 235th meeting of the Board held on February 10, 2024, in Delhi, chaired by the Union Minister for Labour and Employment and Environment, Forestry, and Climate Change. This decision, subject to approval by the Ministry of Finance, underscores EPFO’s commitment to providing favorable returns to its members. This notification was published on February 10, 2024.
Furthermore, the Board suggested allocating a historic income of Rs. 1,07,000 crores to EPF members’ accounts, based on a total principal amount of approximately Rs. 13 lakh crores. This distribution marks a significant increase compared to the previous financial year, indicating robust financial performance and potentially promising returns for members. EPFO’s consistent track record of offering competitive interest rates reflects its confidence in investment quality and its dedication to ensuring members receive attractive returns. With prudent management, EPFO continues to be a preferred choice for secure and rewarding long-term investments.
