Government Approves 8.25% Interest Rate on EPF for 2024-25

The government has approved an 8.25% interest rate on Employees’ Provident Fund (EPF) for the financial year 2024-25, allowing the EPFO to credit annual interest to over 7 crore subscribers’ post-retirement funds. This rate, retained from the previous year, was confirmed by the Ministry of Finance and announced by the Labour Ministry. The decision was made at the 237th EPFO Central Board meeting chaired by Labour Minister Mansukh Mandaviya. EPF provides relatively higher and stable returns compared to other fixed-income options. The interest rate was slightly increased to 8.25% in 2023-24 after a historic low of 8.1% in 2021-22.