EPFO fixes 8.15-pc interest rate on EPF for 2022-23
EPFO fixes 8.15-pc interest rate on EPF for 2022-23
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NEW DELHI: The retirement fund body Employees' Provident Fund Organisation (EPFO) has fixed 8.15 percent interest rate on employees' provident fund for 2022-23.

In 2022, Employees' Provident Fund Organisation declared 8.1 percent as the rate of interest for 2021-22, the lowest in 40 years. The interest rate last slipped to 8 percent in 1977-78.

In March 2020, EPFO had lowered the interest rate on provident fund deposits to a 7-year low of 8.5 percent for 2019-20, from 8.65 percent provided for 2018-19.

The retirement fund body  provides the rate of interest only after it is ratified by the government through the finance ministry. It had provided 8.65 percent interest rate to its subscribers in 2016-17 and 8.55 percent in 2017-18. The rate of interest was slightly higher at 8.8 percent in 2015-16.

After the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent to the Ministry of Finance for concurrence.

The EPFO had given 8.75 percent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 percent for 2012-13.

The rate of interest was 8.25 percent in 2011-12.

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