EPFO: Provident Fund Organization of Employees (EPFO) will decide the interest rates received on Provident Fund today. The meeting of the 237th Central Board of EPFO is to be held on Friday 28 February 2025. This meeting will be chaired by Union Minister of Labor and Employment, Dr. Mansukh Mandavia. The meeting will include employer organizations, trade unions, central and state government officials. The interest received on PF account will be fixed here. Employees are hoping to increase the interest on PF but such expectations are less.
Today will be a meeting on Friday 28 February
The meeting of the 237th Central Board of EPFO is to be held today. In which it will be decided how much interest will be received on EPF. However, information about the official agenda of the meeting has not yet been made public. But according to reports, it will mainly fix the interest rate of Employees Provident Fund (EPF) for Financial Year 2024-25. Experts believe that this rate can remain only 8.25% like last year.
EPF interest rate impact on employees
Under the EPFO Act, 12% of the basic salary and dearness allowance (DA) of employees go to PF account. The employer also contributes the same amount of money, out of which 3.67% goes to EPF and 8.33% in Employees Pension Scheme (EPS).
Benefits of EPF
EPF for employees is a safe and profitable savings scheme, providing financial security for rutsment. This is a government guarantee scheme, which keeps investment safe. Tax-free interest (to a limit) is available on EPF, making it an attractive investment option. In addition, it gives better and stable returns than other fixed-incompatible schemes. EPF not only saving, but also provides partial withdrawal facility to buy emergency needs such as medical, education, or home.
PF interest rates in previous years
CBT fixes the interest rate of EPF every year consulting the Finance Ministry. After this meeting of EPFO, a formal announcement will be made regarding the interest rate. Employees hope that the return on their savings will increase. Interest rates have been like this in the last 15 years.
Annual interest rate (%)