EPF Interest Rates: The meeting of the retirement fund body Employees Provident Fund Organization (EPFO) is going to be held today i.e. on 28 February, in which a decision can be taken regarding the interest rate of Provident Fund (PF). According to reports, if the Central Board of Trustees (CBT) of EPFO ​​​​decides on interest on 28 February, then more than 6.5 crore members of EPFO ​​​​may get a shock. It is believed that a decision can be taken on the reduction in interest rates in the meeting. Earlier, EPFO ​​​​had increased the interest rates from 8.15 percent to 8.25 percent last year.

Let us tell you that in the last 8 years, there has been a fluctuation in EPF interest rates. In the year 2016-17, this rate was 8.65 percent, which decreased to 8.55 percent in 2017-18. After this, it was again increased to 8.65 percent in 2018-19. This rate remained stable at 8.5 percent in 2019-20 and 2020-21. In the financial year 2021-22, the government fixed the interest rate at 8.1 percent, the lowest in 4 decades. However, in 2022-23, it increased marginally and became 8.15 percent. In 2023-24, the government fixed the interest rates at 8.25 percent.

At what rate has interest been received on PF in the last 8 years?

8.65 percent in FY 2016-17
8.55 percent in FY 2017-18
8.65 percent in FY 2018-19
8.50 percent in FY 2019-20
8.50 percent in FY 2020-21
8.10 percent in FY 2021-22
8.15 percent in FY 2022-23
8.25 percent in FY 2023-24

What is EPF? EPF i.e. Employee Provident Fund is a government scheme that helps employees to save for the future. Under this, employees deposit a part of their salary in EPFO. For employed people, EPF money is considered their lifelong earnings. In some special circumstances, this money can also be withdrawn before time.

PC Social media