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The interest rates for the financial year 2023-24 were announced by the Employees Provident Fund Organization in February 2024. The government agency has declared 8.25 percent interest on EPF deposits for the last financial year. An interest rate of 8.15 percent was announced by EPFO for the financial year 2022-23.

When will interest come to the EPF account?

A large number of people are asking questions to EPFO on social media regarding the outstanding interest for the financial year 2023-24. In response to a question, EPFO wrote on social media that dear member, work on this process is in progress and the interest will be credited to the account soon. All members will see the same with credit in their passbooks. Members will not suffer any loss of interest.

28.17 crore members received interest in the financial year 2022-23 

EPFO has so far given interest to 28.17 crore members for the financial year 2022-23. In the post made by EPFO on social media, it is written that interest has been paid to a total of 28.17 crore members for the financial year 2022-23. These figures are till March 2024.

Interest was declared in February 

CBT had announced an interest rate of 8.25 percent on EPF accounts in the financial year 2023-24. Earlier it was 8.15 percent. In the press release issued by PIB on February 10, 2024, it was said that the Board has recommended the distribution of historical income amount of Rs 1,07,000 crore based on Rs 13 lakh crore. The distribution of an amount of Rs 91,151 crore based on Rs 11.02 lakh crore was announced in the financial year 2022-23.

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