EPF Interest Rate: An important news will be available to EPF members in the next few days. EPF interest rates are likely to increase. You can find out about this in this post.
EPFO Update: The Government of India has increased PF interest rates in the last two years. The PF interest rate was increased to 8.15 percent in 2022-23 and 8.25 percent in 2023-24. Following this, there is an expectation among EPF subscribers that the interest rate will increase this year as well.
Are you an EPF member? Then we have some important news for you. In a few days, EPF members will get a gift.
The 2025 Budget has made many announcements and promises to the middle class. In particular, the announcement that annual income up to Rs. 12 lakh will be tax exempt has made everyone happy.
Following this, the government is expected to announce more good news for the middle-class salaried people soon. The government is expected to increase EPF interest rates as soon as possible.
The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) will meet on February 28. The meeting is expected to discuss the increase in EPF interest rate for the financial year 2024-25.
The Union Labour Minister will chair the meeting. Representatives of employers’ associations and workers’ associations will also attend the meeting. The official agenda for the meeting is yet to be released. However, it is said that the PF interest rate will be a key issue.
The government is currently focusing on reviving the economy. For this, it is very important to increase demand and consumption. To facilitate this, after raising the income tax exemption limit, the government may now consider increasing the PF interest rate. This will provide more income to middle-class employees in PF savings. This will allow them to increase other expenses.
The government has been increasing interest rates on EPF accounts for two consecutive years. As such, EPF members are expecting another rate hike this time too.
In 2022-23, the government increased the PF interest rate to 8.15%. Subsequently, it was increased to 8.25% in 2023-24. The government is now likely to increase it further.
Based on the current base rate of banks, a significant increase in PF interest rates seems unlikely. Economists believe that the government may increase the interest rate by 0.10% this time, like last time.
More than seven crore people in the country have EPFO ​​accounts, and new members are continuously joining. The number of people depositing money in the EPFO ​​pension fund is also increasing.
Disclaimer: This post is written for informational purposes only. No guarantee is given regarding the increase in EPF interest rates. It is recommended to consult official government websites for the latest and accurate information.
Most Read Articles:
- PF members, there are only 3 days left: Do this immediately, otherwise there will be trouble
- Additional Pension: Good news for pensioners! 5%, 10%, 15% additional pension from the age of 65… Will there be a change in the rules?
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
