There is good news for crores of people doing private jobs. They will get 8.25 percent interest on their money deposited in EPF. The central government has approved the proposal of 8.25 percent interest rate on EPF. This will be for interest financial year 2024-25. It is said that more than 7 crore subscribers of EPF will benefit from this. However, this is equal to the interest rate of a year ago.
On February 28, EPFO decided to maintain the interest rate of EPF 8.25 per cent. It was sent to the Finance Ministry for approval. It is said that the Finance Ministry has approved this proposal. A Labor Ministry official said, “The Finance Ministry has approved the 8.25 per cent interest rate proposal for the last financial year. It will be for fiscal year 2024-25. The Labor Ministry informed EPFO on 22 May.
Following this decision of the government, the way for interest money in EPF account of more than 7 crore EPF subscribers has been cleared.