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Updated: 01 Mar 2025
3 Min Read
The Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) has recommended an interest rate of 8.25 % on Employee Provident Fund (EPF) deposits for the fiscal year 2024-25. Last year, the EPF interest rate was 8.25 %.
The decision to keep the interest rate unchanged was taken at the 237th meeting of the Central Board of Trustees of the EPFO, held in New Delhi on 28th February 2025.
The proposal will now go to the Union Ministry of Finance, and if it is approved, the interest amount will be credited to the EPF subscribers' account by the EPFO.
The EPFO is under the administrative control of the Union Ministry of Labour and Employment.
The 237th meeting of the Central Board of Trustees of the EPFO meeting was chaired by the Union Minister for Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya.
Increase in insurance benefits under EDLI Scheme
The Employees Provident Fund Organisation was set up on 15 November 1951.
It was made a statutory body in 1952 under the provision of the Employees Provident Funds and Miscellaneous Provisions Act 1952.
It is applicable all over India, including Jammu and Kashmir.
It is under the administrative control of the Union Ministry of Labour and Employment.
The Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) administers the scheme of the EPFO.
The Central Board consists of representatives from the central state government, employers, and employees.
The Central Board administers the EPF, EPS, and EDLI schemes.
Out of the Employee’s 12% contribution to the EPF, 8.33 % is allocated to EPS, 3.67 % goes to the EPF, and 0.50 % goes to the EDLI account.
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