There has been a significant update for the employed. A sizeable sum will soon be added to your account if you work and are also waiting for PF interest (PF Account). The Employees Provident Fund Organization (EPFO) meeting, which will span two days, began on Monday. At this meeting, a decision will be made regarding interest rates. Let us inform you that at the two-day meeting of EPFO, the interest rate on the Employees Provident Fund for 2022–2023 can be announced.
EPFO is now receiving interest at 8.1%.
The interest rate on the EPF of its approximately five crore stockholders was lowered to 8.1 percent in March 2022 for the fiscal year 2021–2022—the lowest level in more than four decades. Since 1977–1978, when the interest rate on EPF was 8%, this rate hasn’t been this low. Its rate was 8.5% in 2020–2021.
On Monday afternoon, the meeting began.
According to a source, the Central Board of Trustees (CBT), the top decision-making body of the Workers’ Provident Fund Organization, will begin to make decisions about the interest rate on EPF for 2022–2023 on Monday afternoon.
There is also the option of a greater pension;
what steps has EPFO taken in response to the Supreme Court’s directive that applicants for higher pensions have four months to submit their applications? Also, this can be covered in the meeting. The EPFO has given its investors till May 3, 2023. Let us inform you that the EPFO lowered the interest rate on provident fund deposits to an all-time low of 8.5% in March 2020. It was 8.65 percent in 2018–19.
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