EPF Interest Rate Hiked to 8.25% from 8.15%

New Delhi: Retirement fund body EPFO increased the interest rate on employees’ provident fund (EPF) deposits for 2023-24 to 8.25%. This enhanced interest rate is a three-year high.

The decision to hike the interest rate was taken on Saturday during a meeting of the EPFO’s Central Board of Trustees (CBT), on Saturday.

The EPFO marginally increased the interest rate on EPF in March 2023 to 8.15% for the fiscal year 2022-23 from 8.10% in 2021-22. In March 2022, the EPFO had lowered the interest rate on EPF to an over four-decade low of 8.1% for 2021-22, down from 8.5% in 2020-21.

There are over six crore subscribers of the EPFO.