EPFO hikes interest rate on deposits to 8.25% from 8.15% for FY23-24:

EPFO hikes interest rate on deposits to 8.25% from 8.15% for FY23-24:

Daily Current Affairs   /   EPFO hikes interest rate on deposits to 8.25% from 8.15% for FY23-24:

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Category : Business and economics Published on: February 14 2024

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  • Central Board of Trustees (CBT) of Employees Provident Fund Organisation (EPFO) has recommended 8.25 percent interest rate for fiscal year 2023-24. The interest rate for fiscal year 2022–23 was 8.15%. This is the highest amount ever the board has recommended for distribution to its subscriber accounts.
  • The total amount it recommended for the distribution is Rs 1,07,000 crore to EPF members for FY 2023–24, as compared to Rs 91,151.66 crore in the financial year 2022–23.
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