EPF interest for FY 2023-24: The Employees Provident Fund Organisation (EPFO) announced the interest rate for provident fund deposits for the 2023–2024 fiscal year in February of 2024. The interest rate for 2023–24 was raised by the EPFO from 8.15% to 8.25% from the previous year.
Under the automatic transfer system, the provident fund (PF) balance can be credited to the new employer's account without any action required from the employee.
EPF interest rate for FY2023-24: The interest rate will be formally announced in the government gazette if approved by the Ministry of Finance. EPFO will then credit the agreed rate of interest to its EPF subscribers accounts.
Provident Fund Alert: The EPFO had in March 2023 increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22.