Govt notifies interest rate of 8.15% on EPF deposits

The Union government on Monday notified 8.15% as the interest rate on deposits under the EPF scheme for 2022-23, as recommended by the retirement fund body’s Central Board of Trustees in March this year. On Monday, EPFO also directed its field offices to credit the interest into the accounts of over 6 crore active members as of March 2023. Interest rate on PF accounts declared in March this year was marginally higher than the four-decade low of 8.1% declared by the government in 2021-22.

from Personal Finance News-Wealth-Economic Times https://ift.tt/aFhNAVT