EPFO to retain 8.25% interest rate on PF deposits for 2024-25

EPFO retains 8.25% interest rate on EPF deposits for 2024-25, decision sent to Ministry of Finance.

The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) on Friday (February 28 2025) retained an interest rate of 8.25 per cent on employees’ provident fund (EPF) deposits for 2024-25, sources said.

After the CBT's decision, the interest rate on EPF deposits for 2024-25 will be sent to the Ministry of Finance for concurrence. The Union Finance Ministry takes a decision on the rate based on the recommendation of the CBT.

In February 2024, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.

In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over seven crore subscribers, from 8.5 per cent in 2020-21.

The 8.10 per cent rate of interest on EPF for 2020-21 was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

"The EPFO's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.25 per cent rate of interest on EPF for 2024-25 at its meeting on Friday," a source said.

The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021.