EPF Interest Rate of 8.15% Ratified by Union Govt for FY22-23
The Centre on Monday ratified the 8.15% interest rate on deposits under the employees provident fund (EPF) scheme for 2022-23.
On 28th March the employees provident fund organisation (EPFO) had slightly hiked the interest rate on EPF deposits to 8.15% for 2022-23 for its over 60mn (million) subscribers.
As per convention, the labour ministry sends the interest rate recommendations to the Finance Ministry for ratification.
With the government having given its consent to the interest rate, the EPFO can now begin crediting it to EPF subscribers for 2022-23.
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