New Delhi, 24 July (Hindustan Times). The government has approved 8.15 per cent interest rate on deposits in Employees Provident Fund (EPF) account for the financial year 2022-23. The Employees’ Provident Fund Organization (EPFO) had sent a proposal to the government on March 28, deciding to pay interest at the rate of 8.15 per cent instead of 8.10 per cent on EPF deposits. In this way, EPFO has marginally increased the interest for its more than six crore members.
In an official order issued on Monday, the EPFO has asked its regional offices to credit the interest at the rate of 8.15 per cent for the financial year 2022-23 in the accounts of the members. This order came after the Finance Ministry’s approval on the interest rate. Only after the notification is issued, the amount will be deposited in the account of EPF members according to the new interest rate.
EPFO had reduced the interest rate on EPF deposits to 8.10 per cent in March 2022 for the financial year 2021-22. This was the lowest interest rate since the financial year, when the EPF interest rate was eight per cent.
