The Central Government has approved an interest rate of 8.25% on Employees’ Provident Fund (EPF) deposits for the financial year 2024–25, providing a significant boost to the retirement corpus of more than 7 crore subscribers across the country. The Ministry of Labour has officially communicated the decision to the Employees’ Provident Fund Organisation (EPFO), authorising it to credit the interest into the members’ accounts.
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The decision to retain the 8.25% interest rate — the same as in FY 2023–24 — was made during the 237th meeting of the EPFO’s Central Board of Trustees held on February 28, 2024. The meeting was chaired by Union Minister for Labour and Employment, Mr. Mansukh Mandaviya. The proposal was subsequently sent to the Ministry of Finance for concurrence, which has now ratified it.
The marginal increase from 8.15% in FY 2023–24 to 8.25% in the current fiscal reflects a steady trend of improving returns on provident fund deposits. EPF continues to remain one of the most attractive fixed-income saving options for salaried employees, especially given its tax-exempt status and long-term security.
This decision ensures financial stability for millions of working professionals and strengthens the government’s commitment to protecting and enhancing post-retirement benefits for the organised workforce.
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