EPFO hikes interest rate on employees’ provident fund deposits to three-year high of 8.25 percent for 2023-24

The Employees’ Provident Fund Organisation (EPFO) has fixed a three-year high-interest rate of 8.25 percent on Employees’ Provident Fund deposits for the fiscal year 2023-24. The apex decision body of EPFO has taken this decision today at the 235th meeting of the Central Board of Trustees, EPFO held in New Delhi. In a social media post, Labour and Employment Minister Bhupender Yadav who chaired the meeting said that the move is a step towards fulfilling Prime Minister Narendra Modi’s guarantee of strengthening social security for India’s workforce.