Employees' Provident Fund - Business Outrank

The Employees' Provident Fund Organisation (EPFO) announced the official 8.25% interest rate for the employees' provident fund (EPF) during the financial year 2024-25 (FY25). The approval of this interest rate for FY25 will result in financial benefits for the more than 7 crore EPF subscribers who hold retirement savings accounts. The EPFO Central Board of Trustees led by Union Labour Minister Mansukh Mandaviya announced the 8.25% interest rate at their 237th meeting on February 28, 2025. The Ministry of Finance provided its last endorsement of the recommendation through the labour ministry officials. The interest rate for FY24 stands at 8.25% which provides better returns than standard fixed-income investments available in the market. The decision establishes EPF as a reliable retirement savings tool that offers protection alongside financial security and extended growth opportunities. The interest rate has experienced minor changes during past years. The interest rate reached 8.15% during 2022-23 before decreasing to 8.10% in 2021-22 which became the lowest rate since 1977-78 when it was 8%. The present interest rate enables EPFO to reach financial stability while fulfilling investor expectations. The government shows its dedication to salaried employees through improved returns on their employees' provident fund contributions which boosts confidence in the EPF system.

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