The Employees’ Provident Fund Organisation (EPFO) has commenced the disbursement of interest to Provident Fund (PF) accounts, revealing a rate of 8.15% for the financial year 2022-23. While some users have already received their interest payouts, the EPFO acknowledges that it may take time for the amount to reflect in all accounts.
Also Read: 2 Tantriks kill MP man, persuade him to cut middle finger to attract money, detained
According to a statement on X (formerly Twitter), the EPFO reassures users that the process is underway, and the interest will be credited in full without any loss. Union Labour Minister Bhupender Yadav has confirmed that interest has been credited in over 24 crore accounts.
Also Read: “Parliamentary democracy is dying…” said Mahua Moitra on reports of her expulsion from Parliament
Once the interest is credited, individuals can check their PF account balance through various channels such as text messages, missed calls, the UMANG app, and the EPFO website.
The PF interest rate is annually determined by EPFO’s Central Board of Trustees (CBT) in consultation with the Ministry of Finance. This year, the interest rate was announced in July. Notably, last year saw a reduction in the interest rate to a four-decade low of 8.10%, down from 8.5% in 2020-21, marking the lowest rate since 1977-78.
PM Modi expressed sorrow over Sinha’s death. "The passing of Sharda Sinha ji is deeply…
Jaishankar noted that the US-India relationship has flourished under both Democratic and Republican leadership, including…
Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…
Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…
DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…
Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…