EPF interest rate: Crores of employed people of the country can get a big gift before Holi. EPFO may increase the interest rates on PF in the festive season. The board meeting of the Employees’ Provident Fund Organization (EPFO) will be held on March 12. Interest rates will be discussed in this meeting. The central government can increase the rate of interest available on the Provident Fund (PF interest rate).
Let us tell you that the interest rates will be fixed for the financial year
This meeting of CBT will be held in Guwahati. In this meeting, the government will decide the interest rates for the current financial year. Only after discussing the interest rates, it will be handed over to the Finance Ministry. It is believed that this time the government can increase the interest rates.
EPFO is currently giving the benefit of interest at the rate of 8.5 percent to the employees. This is the lowest level in the last 7 years. In March 2020, the central government had reduced the interest rates of EPFO. Since then, employed people are getting the benefit of interest at the same rate.
Let us tell you at what rate the EPF interest rate was getting earlier
– 8.65 percent interest in 2018-19 8.65 percent interest
in 2017-18 8.65 percent interest
8.8 percent interest in 2015-16
8.75 percent interest in 2014-15
2013- 8.75 percent interest in 14
14.6 lakh members added in December EPFO added 14.6 lakh members
An actual basis in December 2021, which is 16.4 percent more than the same period a year ago. Provisional data released by Employees’ Provident Fund Organization (EPFO) on Sunday shows that EPFO had added 12.54 lakh members on an actual basis during December 2020.
There are 9.11 lakh new members
Out of the total 14.60 lakh, subscribers added on an actual basis in December 2021, 9.11 lakh new members have been enrolled for the first time under the EPF and MP Act, 1952. The statement said that the number of members exiting EPFO has been decreasing since July 2021.