EPFO Latest News: The Government of India has given many facilities to the middle class in this budget. In Budget 2025, the government has made several announcements and promises for the middle class. After tax exemption, the employee can now make a big decision regarding the interest rate of Provident Fund (PF). The meeting of the Central Board Trustee of the EPFO is scheduled to be held on February 28, with a discussion on increasing the interest rate on PF for 2024-25.
The official agenda of this meeting has not been released yet. At the same time, the meeting will be chaired by the Union Labor Minister and it will also include representatives of the Employment Association and Trade Unions.
PF interest rate may increase
The main focus of the Government of India is to increase the demand in the market at this time and many steps are being taken for this. After not taking tax on income of up to 12 lakhs, the government wants people to increase their additional income and increase domestic consumption as much as possible. In such a situation, it is expected that the interest rate on PF for 2024-25 can be increased.
EPFO has so many account holders
At the same time, this was done by the government in the last two years. In 2022-23, the interest rate of PF was 8.15% and 8.25% in 2023-24. Now, given the base rate of banks, it can be said that PF’s interest rates may increase slightly. Explain that EPFO in the country has more than seven crore people. At the same time, according to the annual report of 2023-24, EPFO has seven crore 37 lakh account holders. Apart from this, the number of people depositing money in EPFO’s pension fund has also increased to around eight lakhs.