8.15% Interest Rate on Employees’ Provident Fund (EPF) for 2022-23

New Delhi: EPFO fixed 8.15 per cent rate of interest on Employees’ Provident Fund (EPF) deposits for 2022-23. This was decided at the EPFO meeting on Tuesday.

In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent. In 2020-21, this interest rate was 8.5 per cent. EPFO has about five crore subscribers. The lowest EPF interest rate was 8 per cent in 1977-78.

After the CBT’s decision, the new interest rate on EPF deposits for 2022-23 will be sent to Ministry of Finance for concurrence.

Following the Central government’s ratification, the interest rate on EPF for 2022-23 will be credited into accounts of over five crore subscribers of EPFO.