Good news for PF account holders! Government has increased the interest, now 8.15 percent return will be given, 6 crore will benefit

New Delhi. The government has given a big gift to more than 6 crore employees of the country who have opened accounts under the Employees’ Provident Fund Organization (EPFO). The government issued an order on Monday and said that for the financial year 2022-23, it has been announced to give 0.05 percent more interest to the PF account holders as compared to last year. The government has also put its seal on the recommendation of EPFO.

Retirement fund body EPFO ​​had recommended increasing the interest on PF account on March 28 this year. EPFO had said that the employees should get 8.15 per cent interest for 2022-23. Accepting this recommendation, the government has also issued a notification. More than 6 crore subscribers will get the benefit of this. Earlier, the interest on PF for the financial year was 8.10 percent.

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Instructions issued to all PF offices
In an official order issued on Monday, the government has directed all regional offices that 8.15 percent interest should be given to all account holders for the financial year 2022-23. More than 6 crore account holders will get the benefit of this. This order has been issued after the Finance Ministry accepted the recommendation of the EPFO ​​​​Trustee to increase the interest rates. In March this year itself, the EPFO ​​Trust had recommended increasing the interest rates. After the issue of this instruction, all the regional offices have also started the process of crediting the interest.

Interest was reduced last year
Employees’ Provident Fund Organization (EPFO) had directly reduced the interest rate on PF by 0.40 per cent in March 2022. This was the lowest interest in 4 decades. The Finance Ministry had reduced the interest on PF account from 8.50 to 8.10 percent directly. However, now it has been increased again to 8.15 percent. The government has also accepted the recommendation to increase the interest this time. This means that the interest coming to the PF account this year will be more than last year.

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