New Delhi: The Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) will meet on February 28, 2025 to decide the interest rate on provident fund deposits for 2024-25. It is being expected that the EPFO might not introduce any change in the PF deposit interest rate.
The EPFO provided 8.25 per cent interest rate to beneficiaries in 2023-24 and 8.15 per cent in 2022-23. The upcoming meeting is expected to take a decision on the Provident Fund rates.
In January 2025, the 111th meeting of the Executive Committee (EC) of the Central Board of Trustees took place in which matters including:
- Centralized IT Enabled System [CITES] 2.01 implementation
- Status of Pension on Higher Wages
- Proposal for an Alternative Dispute Resolution (ADR) mechanism
- Delegation of administrative and financial powers to field offices of EPFO
- A review of grievance redressal mechanisms
- Redistribution of posts within the Commissioner Cadre
- Other HR matters
EPFO added 14.63 Lakh Net Members during November 2024
According to the Ministry of Labour & Employment, the Employees’ Provident Fund Organisation’s provisional payroll data for November 2024 mentioned that a net addition of 14.63 lakh members was recorded. The data showed that there was an increase of 9.07 per cent in net member addition during November as compared to the month of October 2024.
“The year on year analysis reveals a growth of 4.88% in net member additions compared to November 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives,” the ministry stated.
EPF Interest Rate 2025: The Central Board of Trustees (CBT) of the EPFO will meet on February 28, 2025, to determine the interest rate on provident fund deposits for 2024-25. A change is unlikely, given the 8.25% rate in 2023-24 and 8.15% in 2022-23. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
