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.
The interest rate will be officially notified in the government gazette after the Finance Ministry s approval. After this, the EPFO will credit the interest into the subscribers accounts.
PPF interest credit is an ongoing process, which has been taken up in a scheduled manner post development of software, said Minister of State for Labour and Employment Rameshwar Teli.
In March this year, the EPFO declared that it will offer an interest rate of 8.1 per cent, the lowest in the last 40 years, for the last financial year.