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EPFO fixes 8.15% interest rate on employees` provident fund for 2022-23
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Retirement body employee provident fund organisation (EPFO) on Tuesday fixed 8.15 per cent interest rate on the employees' provident fund for 2022-23.
The decision was taken by EPFO's board of trustees.
Last year, EPFO had declared 8.1 per cent as the rate of interest for 2021-22, which was the lowest in 40 years.
The last time the interest rate had slipped to 8 per cent was in 1977-78.
Subsequent to the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent for the finance ministry's approval.
In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.
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