By how much has the Employees Provident Fund Organization (EPFO) increased the interest rate for the financial year 2022-23?

Daily Current Affairs

7.2%

7.75%

8.15%

8.65%

Correct Answer : 8.15%

Employees' Provident Fund Organisation (EPFO) has fixed an 8.15% interest rate on employees' provident fund (EPF) deposits for 2022-23.

* In March 2022, EPFO lowered the interest on EPF for 2021-22 to 8.1% for its about five crore subscribers, from 8.5% in 2020-21.

* The Employees' Provident Fund Organization's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.15 per cent rate of interest on EPF for 2022-23 at its meeting on Tuesday (28th Marc 2023), will be sent to the Ministry of Finance for concurrence.

* EPFO provides the interest rate only after finance ministry ratification..

Source : Times of India

Published On : March 29, 2023

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