Overview

• The Employees' Provident Fund Organisation (EPFO) has kept the interest rate on provident fund deposits unchanged at 8.25% for the financial year 2024-25.
• This decision follows a marginal increase from 8.15% in 2022-23 to 8.25% in 2023-24, maintaining stability for subscribers' retirement savings.
• The EPFO's Central Board of Trustees, chaired by Union Labour Minister Mansukh Mandaviya, cited global economic uncertainties and geopolitical risks as key factors for retaining the rate.
• The interest rate, which once stood at 8.8% in 2015-16, has been gradually reduced in recent years due to pressured earnings and changing market conditions.
• The proposal will now be sent to the Ministry of Finance for approval before the interest earnings are credited to the accounts of over seven crore EPF subscribers.