EPF interest rate 2023: Will EPFO give higher Employees Provident Fund interest this year?

Employees Provident Fund (EPF) interest rate 2023: Salaried employees may not get a higher interest rate on their Provident Fund contributions in the current fiscal. They may have to wait for another year for an increased PF interest rate as it is expected to be around 8% in the current fiscal, The Financial Express reported today.

The Central Board of Trustees of the Employees Provident Fund Organisation (EPFO) is expected to meet on March 25 and 26 where the EPF interest rate issue is likely to be discussed. The meeting will be chaired by Bhupendra Yadav, Union Minister for Labour and Employment.

EPF interest rate 2023: What’s expected

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The report said that the EPF interest rate for 2022-23 is likely to hover around 8%. For FY 2021-22, the EPFO declared an 8.1% interest rate.

When to expect the new EPF interest rate?

The new EPF interest rate may be announced after the CBT meeting by this month. However, the exact agenda and venue of the meeting have not been finalised yet.