Finance Ministry OKs 8.25% EPF interest rate
The government has approved an 8.25% interest rate on Employees' Provident Fund (EPF) deposits for FY 2024-25, benefiting over 70 million subscribers. The labour ministry has instructed EPFO to credit the interest, unchanged from FY24, after finance ministry approval. EPF offers high, stable returns and tax benefits, making it an attractive investment for salaried individuals.
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The government has ratified an interest rate of 8.25% on Employees' Provident Fund (EPF) deposits for the financial year 2024-25, benefitting over 70 million subscribers.The labour ministry has directed the Employees' Provident Fund Organisation EPFO ) to begin crediting the interest — unchanged from FY24 — to subscribers' accounts, following approval from the finance ministry EPF offers relatively high and stable returns compared to other fixed-income instruments , ensuring steady growth of savings for its subscribers. Besides, the interest earned on EPF deposits is tax-free up to a specified limit, making it a highly attractive investment option for salaried individuals . The central board of trustees of EPFO had proposed retaining the 8.25% rate for FY25 at its 237th meeting in February. The labour ministry then sent it to the finance ministry for final approval.The EPFO had given an interest of 8.25% for FY24 on an income of Rs 1.07 lakh, which was the highest yet, on a total principal amount of about Rs 13 lakh crore.
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