Announcement of Interest Rate for Employees' Provident Fund Members Accounts for 2022-23

The Employees’ Provident Fund Scheme, 1952’s paragraph 60(1), authorizes the Central Government to credit an interest rate of 8.15% for the year 2022-23.

• It would be credited to the accounts of each member of the EPF Scheme per its provisions.
• This approval was communicated by the Ministry of Employment and Labour, Government of India.

Conclusion

The declaration of the interest rate for EPF accounts is a welcome move. Thanks to the greater interest rate, they can increase their funds more quickly. They will be able to accomplish their retirement objectives thanks to this.