EPFO to complete process of crediting interest into members’ account for FY25 this week: Mandaviya
File picture: Labour Minister Mansukh Mandaviya
| Photo Credit:
Gunasekar K S 10192@Chennai
The Employees’ Provident Fund Organisation (EPFO) will complete the process of crediting interest for fiscal year 2024-25 (FY25) into members’ accounts this week, Labour Minister Mansukh Mandaviya said on Tuesday.
The rate of interest for FY25 is 8.25 per cent.
“This year, the annual account updation was done for 13.88 lakh establishments having 33.56 crore member accounts, of which till July 8, interest has been credited in 32.39 crore member accounts of 13.86 lakh establishments, Mandaviya told reporters here. This translates into completion of annual accounts updation for 99.9 per cent of the establishments and 96.51 per cent of the Member Accounts,
The interest amount is credited into the EPF members’ accounts every year by the EPFO after ratification of the interest rate by the Finance Ministry. For FY25, the approval of the Central Government for crediting of interest accumulations was conveyed on May 22. Accordingly, annual accounts updation commenced from the night of June 6.
The minister noted that in 2023-24, the process of crediting the interest to members’ accounts commenced in August and was completed in December. The process has now been optimised, and as a result the entire exercise was largely completed in June itself, he pointed out. It is expected that the annual accounts in respect of the remaining establishments will be completed within this week, he said.
EPFO, on February 28, decided to retain the interest rate of 8.25 per cent on employees’ provident fund (EPF) deposits for the financial year 2024-25, the same as the rate provided in the preceding fiscal. The approved rate of interest for 2024-25 was sent for the concurrence of the Finance Ministry.
Compared to many fixed-income instruments, EPF offers relatively higher and stable returns, ensuring steady growth on post-retirement savings. In February 2024, the EPFO increased the interest rate marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent from 8.5 per cent in 2020-21. The 8.10 per cent rate of interest on EPF for 2020-21 was the lowest since 1977-78, when it stood at 8 per cent.
Published on July 8, 2025
