EPFO Update: Good news for 6 crore PF account holders, EPFO told when they will get the money..
The interest rates for the financial year 2023-24 were announced by the Employees Provident Fund Organisation in February 2024. The government agency has declared an interest rate of 8.25 percent on EPF deposits for the last financial year. An interest rate of 8.15 percent was declared by the EPFO for the financial year 2022-23.
When will the interest come in the EPF account?
A large number of people are asking questions to EPFO on social media regarding the outstanding interest for the financial year 2023-24. In response to a question, EPFO wrote on social media that dear member, work is in progress on this process, and the interest will be credited to the account soon. All members will see it in their passbook along with the deposit. Members will not suffer any loss of interest.
28.17 crore members got interest in the financial year 2022-23
So far, EPFO has given interest for the financial year 2022-23 to 28.17 crore members. In a post made by EPFO on social media, it has been written that interest has been paid to a total of 28.17 crore members for the financial year 2022-23. These figures are till March 2024.
Interest was announced in February
CBT had announced an interest rate of 8.25 percent on EPF accounts in the financial year 2023-24. It was earlier 8.15 percent. In a press release issued by PIB on February 10, 2024, it was told that the board has recommended the distribution of historical income amount of Rs 1,07,000 crore on the principal of Rs 13 lakh crore. In the financial year 2022-23, the distribution of an amount of ₹91,151 crore was announced on a base of ₹11.02 lakh crore.
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