Government ratifies 8.15% interest rate on EPF for 2022-23

Tribune News Service

Updated At : 10:46 AM Jul 25, 2023 IST

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New Delhi, July 24

The government has ratified 8.15 per cent interest rate on deposits under the Employees Provident Fund (EPF) scheme for the financial year 2022-23.

The EPFO on March 28 had recommended 8.15 per cent interest rate for 2022-23 for over six crore subscribers. After the Finance Ministry’s concurrence, the EPFO has asked its offices to credit the interest at 8.15 per cent on EPF for 2022-23 into the accounts of members. The interest rate on EPF deposits for 2021-22 was 8.10 per cent and it was 8.5 per cent in 2020-21. The 8.10 per cent interest was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

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