Employees' Provident Fund interest rate set to rise to a three-year high

Your Employees' Provident Fund (EPF) money will grow at 8.25 per cent in 2023-24, up from 8.15 per cent earlier. This was decided by the Central Board of Trustees (CBT) of the Employees Provident Fund Organization (EPFO). CBT's decision will now be forwarded to the finance ministry. Once ratified, over six crore provident fund subscribers will receive the interest money in their accounts. A three-year high In 2021-22 and 2022-23, the EPF interest rates were 8.1 per cent and 8.15 per cent, respectively. Therefore, the interest rate fixed for 2023-24 is the highest since 2020-21. EPF interest rates of last 10 years Year Interest rates (in %) 2014-15 8.75 2015-16 8.8 2016-17