Centre approves 8.25% rate of interest on staff’ provident fund deposits for FY 2024–25 – OXBIG NEWS NETWORK-OxBig News Network

The central authorities has authorised an rate of interest of 8.25 per cent on Employees’ Provident Fund (EPF) deposits for the fiscal yr 2024–25, an official confirmed to PTI on Saturday.This price was really helpful earlier this yr by the Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO). The resolution is anticipated to profit over 7 crore salaried staff throughout India.The authorised price stays unchanged from 2023–24, when EPFO credited 8.25 per cent primarily based on an all-time excessive revenue of Rs 1.07 lakh crore earned on a principal corpus of Rs 13 lakh crore. In comparability, the rate of interest for 2022–23 was 8.15 per cent, declared on an revenue of Rs 91,151.66 crore from a principal base of Rs 11.02 lakh crore.EPFO has additionally made important operational strides, reaching a document 2.16 crore auto-claims settlements as of March 6, 2025, within the present monetary yr—up from 89.52 lakh in 2023–24.The EPF rate of interest is proposed every year by the EPFO’s Central Board of Trustees (CBT), which contains representatives from staff, employers, state governments, and the Ministry of Labour. The proposal requires last approval from the Ministry of Finance earlier than the speed is notified and credited to members, sometimes within the latter half of the monetary yr.Over the final decade, EPF rates of interest have tracked broader financial actions. The price stood at 8.65% in 2018–19, 8.5% in 2019–20, and dipped to eight.1% in 2021–22—the bottom in additional than 40 years—earlier than being elevated within the final two fiscal years.How to verify your EPF stability:Via UMANG App: Download the UMANG app, register utilizing your cell quantity, and entry the EPFO providers part to view your stability and passbook.Via EPFO Portal: Visit www.epfindia.gov.in, log in utilizing your Universal Account Number (UAN) and password beneath the ‘Member Passbook’ part.Via Missed Call: Give a missed name to 011-22901406 out of your UAN-registered cell quantity. Ensure your Aadhaar, PAN, and checking account particulars are up to date and linked to your UAN.