EPFO Interest rates for 2022-23: Employees’ Provident Fund Organization can retain the interest rate available in provident fund at 8.1 per cent for the year 2022-23. Know update.
EPFO Interest Rates:
The Employees’ Provident Fund Organization can retain the interest rate available in the Provident Fund at 8.1 per cent for the year 2022-23. At the same time, compared to the era of Kovid 19, now the withdrawal of EPFO has decreased. At the same time, the earnings from investing in equity have increased.
An important meeting of the Central Board of Trustees is going to be held on March 25 and 26. Let us tell you that in March 2021, the Central Board of Trustees had fixed the interest rate on EPF deposits at 8.5 per cent in the financial year 2020-2021.
lowest interest rate in four decades
In the year 2016-2017, the Central Board of Trustees had fixed the interest rate of PF at 8.65 per cent. It was 8.55 percent in the financial year 2017-18. In the year 2018-19, it was once again increased to 8.65 percent.
In the year 2019-20, the interest rate was 8.50 percent. There was no change in this in 2020-21. In the year 2021-22, it has been reduced to 8.10 percent. This was the lowest interest rate in the last four decades. In the year 1977-78, the interest rate was eight percent.
interest will come soon
EPFO had said in response to a complaint on Twitter that the process of transferring the amount of PF to the account continues. In this case, the amount will come in the account soon. There will be no loss to the account holder. Let us tell you that 12 percent of the salary is deposited in the EPF account.
In the general budget presented on February 1, 2023, the central government had announced relief on the withdrawal of money from EPF. Under the new rule, TDS on withdrawal of money deposited in PF has been reduced from 30 percent to 20 percent.
According to the rules of EPFO, according to the reason you choose for the withdrawal of money, it is decided according to how much money you are going to get. If you have not received salary for two months due to job loss, then you can withdraw the money deposited in PF.
