EPF’s Interest Rate for FY25 Fixed: Employees Provident Fund Organization (EPFO) has fixed the rate of how much interest will be received for FY 2024-25 on EPF account deposits. The board of EPFO has fixed the interest rate of 8.25 per cent on EPF deposits for FY 2024-25 against the news agency PTI report. This is the highest in three financial years. It was 8.15 per cent in the last financial year 2023 and 8.10 per cent in FY 2022. So far, the lowest rate of interest on EPF account was received in FY 1977-78 when its rate was 8 per cent and then in FY 2021-22, its rate was 8.10 per cent.
Employees also got a big gift in the budget
Union Finance Minister Nirmala Sitharaman announced a big relief in the budget by tax-freeing income of up to Rs 12 lakh in the budget this year. This relief is on income of up to Rs 12.75 lakh, including standard deduction. These relief was announced by the Finance Minister presenting the budget for the next financial year 2026.
Employees have got another relief this month
There is another major relief in February this month and the employees have also benefited from it. The RBI finally cut the repo rate after a long wait. After 5 years, the RBI reduced the repo rate and reduced it from 0.25 per cent to 6.25 per cent. When the repo rate is low, the loan installments are low.