{"id":10623,"date":"2024-02-10T07:10:13","date_gmt":"2024-02-10T07:10:13","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=10623"},"modified":"2024-02-10T07:10:13","modified_gmt":"2024-02-10T07:10:13","slug":"epfo-fixes-8-25-pc-interest-rate-on-employees-provident-fund-for-2023-24","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/epfo-fixes-8-25-pc-interest-rate-on-employees-provident-fund-for-2023-24\/","title":{"rendered":"EPFO Fixes 8.25 Pc Interest Rate On Employees\u2019 Provident Fund For 2023-24"},"content":{"rendered":"

NEW DELHI, Feb 10: Employee\u00a0<\/span><\/span>Provident\u00a0<\/span>Fund\u00a0<\/span><\/span>(EPF)\u00a0<\/span><\/span>deposits\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2023\u201324\u00a0<\/span><\/span>will\u00a0<\/span>now\u00a0<\/span>have\u00a0<\/span><\/span>a\u00a0<\/span>three-year\u00a0<\/span>high\u00a0<\/span><\/span>interest\u00a0<\/span><\/a>rate<\/a>\u00a0<\/span><\/span>of\u00a0<\/span><\/span>8.25\u00a0<\/span><\/span>percent,\u00a0<\/span><\/span>according\u00a0<\/span>to\u00a0<\/span><\/span>a\u00a0<\/span>decision\u00a0<\/span><\/span>made\u00a0<\/span>by\u00a0<\/span><\/span>retirement\u00a0<\/span><\/span>fund\u00a0<\/span><\/span>authority\u00a0<\/span><\/span>EPFO\u00a0<\/span><\/span>on\u00a0<\/span><\/span>Saturday.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span><\/span>Employees’\u00a0<\/span><\/span>Provident\u00a0<\/span>Fund\u00a0<\/span><\/span>Organisation\u00a0<\/span><\/span><\/a>(<\/a>EPFO)\u00a0<\/span><\/span>raised\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span><\/span>Employee\u00a0<\/span><\/span>Provident\u00a0<\/span><\/span>Funds\u00a0<\/span><\/span>(EPF)\u00a0<\/span><\/span>in\u00a0<\/span><\/span>March\u00a0<\/span>2023,\u00a0<\/span><\/span>moving\u00a0<\/span><\/span>it\u00a0<\/span><\/span>up\u00a0<\/span>slightly\u00a0<\/span><\/span>from\u00a0<\/span><\/span>8.10\u00a0<\/span><\/span>percent\u00a0<\/span>in\u00a0<\/span><\/span>2021\u20132022\u00a0<\/span><\/span>to\u00a0<\/span><\/span>8.15\u00a0<\/span><\/span>percent\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2022\u20132023.<\/span><\/span><\/span> <\/span><\/span><\/span>EPFO\u00a0<\/span><\/span>reduced\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span>its\u00a0<\/span><\/span>EPF\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2021\u20132022\u00a0<\/span><\/span>in\u00a0<\/span><\/span>March\u00a0<\/span>2022,\u00a0<\/span><\/span>from\u00a0<\/span><\/span>8.5%\u00a0<\/span><\/span>in\u00a0<\/span><\/span>2020\u20132021\u00a0<\/span><\/span>to\u00a0<\/span><\/span>8.1\u00a0<\/span><\/span>percent\u2014a\u00a0<\/span><\/span>four-decade\u00a0<\/span><\/span>low\u2014for\u00a0<\/span><\/span>its\u00a0<\/span><\/span>more\u00a0<\/span>than\u00a0<\/span>six\u00a0<\/span><\/span>crore\u00a0<\/span><\/span>users.<\/span><\/span><\/span> <\/span><\/span><\/span>This\u00a0<\/span>was\u00a0<\/span><\/span>the\u00a0<\/span>lowest\u00a0<\/span><\/span>since\u00a0<\/span><\/span>the\u00a0<\/span>EPF\u00a0<\/span><\/span>interest\u00a0<\/span>rate\u00a0<\/span><\/span>was\u00a0<\/span><\/span>8%\u00a0<\/span><\/span>in\u00a0<\/span><\/span>1977\u20131978.<\/span><\/span><\/span><\/span><\/span><\/span>“At\u00a0<\/span><\/span>its\u00a0<\/span>meeting\u00a0<\/span><\/span>on\u00a0<\/span><\/span>Saturday,\u00a0<\/span><\/span>the\u00a0<\/span>Central\u00a0<\/span>Board\u00a0<\/span><\/span>of\u00a0<\/span><\/span>Trustees\u00a0<\/span><\/span>(CBT),\u00a0<\/span><\/span>the\u00a0<\/span>highest\u00a0<\/span>decision-making\u00a0<\/span>body\u00a0<\/span><\/span>of\u00a0<\/span>the\u00a0<\/span><\/span>EPFO,\u00a0<\/span><\/span>voted\u00a0<\/span><\/span>to\u00a0<\/span>give\u00a0<\/span><\/span>an\u00a0<\/span><\/span>8.25\u00a0<\/span><\/span>percent\u00a0<\/span><\/span>rate\u00a0<\/span>of\u00a0<\/span><\/span>interest\u00a0<\/span><\/span>on\u00a0<\/span><\/span>EPF\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2023\u20132024,\u201d\u00a0<\/span><\/span>a\u00a0<\/span>source\u00a0<\/span><\/span>stated.<\/span><\/span><\/span> <\/span><\/span><\/span>CBT\u00a0<\/span><\/span>determined\u00a0<\/span><\/span>in\u00a0<\/span>March\u00a0<\/span><\/span>2021\u00a0<\/span><\/span>that\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span><\/span>EPF\u00a0<\/span><\/span>deposits\u00a0<\/span><\/span>year\u00a0<\/span><\/span>2020\u201321\u00a0<\/span><\/span>will\u00a0<\/span>be\u00a0<\/span><\/span>8.5%.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>interest\u00a0<\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span><\/span>EPF\u00a0<\/span><\/span>deposits\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2023\u20132024\u00a0<\/span><\/span>will\u00a0<\/span>be\u00a0<\/span><\/span>forwarded\u00a0<\/span><\/span>to\u00a0<\/span>the\u00a0<\/span><\/span>Ministry\u00a0<\/span><\/span>of\u00a0<\/span><\/span>Finance\u00a0<\/span><\/span><\/a>for\u00a0<\/span><\/span>approval\u00a0<\/span><\/span>following\u00a0<\/span><\/span>the\u00a0<\/span><\/span>CBT’s\u00a0<\/span><\/span>ruling.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>interest\u00a0<\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span><\/span>EPF\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2023\u20132024\u00a0<\/span><\/span>would\u00a0<\/span>be\u00a0<\/span><\/span>credited\u00a0<\/span><\/span>into\u00a0<\/span><\/span>the\u00a0<\/span>accounts\u00a0<\/span><\/span>of\u00a0<\/span><\/span>more\u00a0<\/span>than\u00a0<\/span>six\u00a0<\/span><\/span>crore\u00a0<\/span><\/span>EPFO\u00a0<\/span><\/span>users\u00a0<\/span><\/span>following\u00a0<\/span><\/span>government\u00a0<\/span><\/span>certification.<\/span><\/span><\/span><\/span><\/span><\/span>Only\u00a0<\/span>until\u00a0<\/span><\/span>it\u00a0<\/span><\/span>has\u00a0<\/span>been\u00a0<\/span><\/span>approved\u00a0<\/span>by\u00a0<\/span><\/span>the\u00a0<\/span>government\u00a0<\/span><\/span>through\u00a0<\/span><\/span>the\u00a0<\/span>ministry\u00a0<\/span><\/span>of\u00a0<\/span><\/span>finance\u00a0<\/span><\/span>does\u00a0<\/span><\/span>EPFO\u00a0<\/span><\/span>release\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span><\/span>rate.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>interest\u00a0<\/span>rate\u00a0<\/span><\/span>on\u00a0<\/span><\/span>provident\u00a0<\/span>fund\u00a0<\/span><\/span>deposits\u00a0<\/span><\/span>was\u00a0<\/span>reduced\u00a0<\/span><\/span>by\u00a0<\/span><\/span>EPFO\u00a0<\/span><\/span>in\u00a0<\/span><\/span>March\u00a0<\/span>2020\u00a0<\/span><\/span>from\u00a0<\/span><\/span>8.65\u00a0<\/span><\/span>percent\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2018\u201319\u00a0<\/span><\/span>to\u00a0<\/span>a\u00a0<\/span><\/span>seven-year\u00a0<\/span><\/span>low\u00a0<\/span><\/span>of\u00a0<\/span><\/span>8.5\u00a0<\/span>percent\u00a0<\/span><\/span>for\u00a0<\/span><\/span>2019\u201320.<\/span><\/span><\/span> <\/span><\/span><\/span>In\u00a0<\/span><\/span>2016\u201317\u00a0<\/span><\/span>and\u00a0<\/span><\/span>2017\u201318,\u00a0<\/span><\/span>EPFO\u00a0<\/span><\/span>offered\u00a0<\/span><\/span>its\u00a0<\/span>customers\u00a0<\/span><\/span>an\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span>of\u00a0<\/span><\/span>8.55%\u00a0<\/span><\/span>and\u00a0<\/span><\/span>8.55%,\u00a0<\/span><\/span>respectively.<\/span><\/span><\/span> <\/span><\/span><\/span>In\u00a0<\/span><\/span>2015\u201316,\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span><\/span>increased\u00a0<\/span><\/span>somewhat\u00a0<\/span><\/span>to\u00a0<\/span><\/span>8.8%.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>retirement\u00a0<\/span><\/span>fund\u00a0<\/span><\/span>body\u00a0<\/span><\/span>offered\u00a0<\/span><\/span>an\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span>of\u00a0<\/span><\/span>8.75\u00a0<\/span><\/span>percent\u00a0<\/span>in\u00a0<\/span><\/span>2013\u201314\u00a0<\/span><\/span>and\u00a0<\/span><\/span>2014\u201315,\u00a0<\/span><\/span>which\u00a0<\/span><\/span>was\u00a0<\/span>higher\u00a0<\/span><\/span>than\u00a0<\/span><\/span>8.5\u00a0<\/span>percent\u00a0<\/span><\/span>in\u00a0<\/span><\/span>2012\u201313.<\/span><\/span><\/span> <\/span><\/span><\/span>In\u00a0<\/span><\/span>2011\u201312,\u00a0<\/span><\/span>the\u00a0<\/span>interest\u00a0<\/span><\/span>rate\u00a0<\/span><\/span>was\u00a0<\/span><\/span>8.25\u00a0<\/span>percent.<\/span><\/span><\/span> <\/span><\/span><\/span><\/p>\n

\"EPFO
EPFO Fixes 8.25 Pc Interest Rate On Employees\u2019 Provident Fund For 2023-24<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

NEW DELHI, Feb 10: Employee\u00a0Provident\u00a0Fund\u00a0(EPF)\u00a0deposits\u00a0for\u00a02023\u201324\u00a0will\u00a0now\u00a0have\u00a0a\u00a0three-year\u00a0high\u00a0interest\u00a0rate\u00a0of\u00a08.25\u00a0percent,\u00a0according\u00a0to\u00a0a\u00a0decision\u00a0made\u00a0by\u00a0retirement\u00a0fund\u00a0authority\u00a0EPFO\u00a0on\u00a0Saturday. The\u00a0Employees’\u00a0Provident\u00a0Fund\u00a0Organisation\u00a0(EPFO)\u00a0raised\u00a0the\u00a0interest\u00a0rate\u00a0on\u00a0Employee\u00a0Provident\u00a0Funds\u00a0(EPF)\u00a0in\u00a0March\u00a02023,\u00a0moving\u00a0it\u00a0up\u00a0slightly\u00a0from\u00a08.10\u00a0percent\u00a0in\u00a02021\u20132022\u00a0to\u00a08.15\u00a0percent\u00a0for\u00a02022\u20132023. EPFO\u00a0reduced\u00a0the\u00a0interest\u00a0rate\u00a0on\u00a0its\u00a0EPF\u00a0for\u00a02021\u20132022\u00a0in\u00a0March\u00a02022,\u00a0from\u00a08.5%\u00a0in\u00a02020\u20132021\u00a0to\u00a08.1\u00a0percent\u2014a\u00a0four-decade\u00a0low\u2014for\u00a0its\u00a0more\u00a0than\u00a0six\u00a0crore\u00a0users. This\u00a0was\u00a0the\u00a0lowest\u00a0since\u00a0the\u00a0EPF\u00a0interest\u00a0rate\u00a0was\u00a08%\u00a0in\u00a01977\u20131978.“At\u00a0its\u00a0meeting\u00a0on\u00a0Saturday,\u00a0the\u00a0Central\u00a0Board\u00a0of\u00a0Trustees\u00a0(CBT),\u00a0the\u00a0highest\u00a0decision-making\u00a0body\u00a0of\u00a0the\u00a0EPFO,\u00a0voted\u00a0to\u00a0give\u00a0an\u00a08.25\u00a0percent\u00a0rate\u00a0of\u00a0interest\u00a0on\u00a0EPF\u00a0for\u00a02023\u20132024,\u201d\u00a0a\u00a0source\u00a0stated. CBT\u00a0determined\u00a0in\u00a0March\u00a02021\u00a0that\u00a0the\u00a0interest\u00a0rate\u00a0on\u00a0EPF\u00a0deposits\u00a0year\u00a02020\u201321\u00a0will\u00a0be\u00a08.5%. The\u00a0interest\u00a0rate\u00a0on\u00a0EPF\u00a0deposits\u00a0for\u00a02023\u20132024\u00a0will\u00a0be\u00a0forwarded\u00a0to\u00a0the\u00a0Ministry\u00a0of\u00a0Finance\u00a0for\u00a0approval\u00a0following\u00a0the\u00a0CBT’s\u00a0ruling. The\u00a0interest\u00a0rate\u00a0on\u00a0EPF\u00a0for\u00a02023\u20132024\u00a0would\u00a0be\u00a0credited\u00a0into\u00a0the\u00a0accounts\u00a0of\u00a0more\u00a0than\u00a0six\u00a0crore\u00a0EPFO\u00a0users\u00a0following\u00a0government\u00a0certification.Only\u00a0until\u00a0it\u00a0has\u00a0been\u00a0approved\u00a0by\u00a0the\u00a0government\u00a0through\u00a0the\u00a0ministry\u00a0of\u00a0finance\u00a0does\u00a0EPFO\u00a0release\u00a0the\u00a0interest\u00a0rate. The\u00a0interest\u00a0rate\u00a0on\u00a0provident\u00a0fund\u00a0deposits\u00a0was\u00a0reduced\u00a0by\u00a0EPFO\u00a0in\u00a0March\u00a02020\u00a0from\u00a08.65\u00a0percent\u00a0for\u00a02018\u201319\u00a0to\u00a0a\u00a0seven-year\u00a0low\u00a0of\u00a08.5\u00a0percent\u00a0for\u00a02019\u201320. In\u00a02016\u201317\u00a0and\u00a02017\u201318,\u00a0EPFO\u00a0offered\u00a0its\u00a0customers\u00a0an\u00a0interest\u00a0rate\u00a0of\u00a08.55%\u00a0and\u00a08.55%,\u00a0respectively. In\u00a02015\u201316,\u00a0the\u00a0interest\u00a0rate\u00a0increased\u00a0somewhat\u00a0to\u00a08.8%. The\u00a0retirement\u00a0fund\u00a0body\u00a0offered\u00a0an\u00a0interest\u00a0rate\u00a0of\u00a08.75\u00a0percent\u00a0in\u00a02013\u201314\u00a0and\u00a02014\u201315,\u00a0which\u00a0was\u00a0higher\u00a0than\u00a08.5\u00a0percent\u00a0in\u00a02012\u201313. In\u00a02011\u201312,\u00a0the\u00a0interest\u00a0rate\u00a0was\u00a08.25\u00a0percent.      <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6,67,89],"tags":[],"class_list":["post-10623","post","type-post","status-publish","format-standard","hentry","category-business","category-header","category-national"],"gutentor_comment":0,"yoast_head":"\nEPFO Fix 8.25Pc Int Rate On Employees\u2019ProvidentFund For 23-24<\/title>\n<meta name=\"description\" content=\"Employee\u00a0Provident\u00a0Fund\u00a0(EPF)\u00a0deposits\u00a0for\u00a02023\u201324\u00a0will\u00a0now\u00a0have\u00a0a\u00a0three-year\u00a0high\u00a0interest\u00a0rate\u00a0of\u00a08.25\u00a0percent,\" \/>\n<meta name=\"robots\" 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