The Employees’ Provident Fund Organisation (EPFO) board has decided to retain the 8.25% interest rate on employees’ provident fund (EPF) deposits for the financial year 2024-25. The announcement ensures continued stability in returns for over 7 crore subscribers amid rising inflation.
This decision maintains the previous year’s interest rate, which was increased marginally from 8.15% in 2022-23 to 8.25% in 2023-24.
Stable Returns for Employees’ Long-Term Savings
The EPF scheme is a crucial financial tool for salaried employees, offering a risk-free and tax-efficient way to build retirement savings. With the interest rate staying at 8.25%, employees can continue to grow their retirement corpus without worrying about market fluctuations.
Government’s Commitment to Retirement Security
The decision to retain the interest rate reflects the government’s commitment to ensuring a stable and reliable retirement savings option for employees. The EPF scheme plays a vital role in securing financial independence post-retirement, helping individuals build a substantial corpus for their future needs.
By maintaining a competitive interest rate, the EPFO reinforces the importance of disciplined, long-term savings, encouraging employees to plan effectively for their financial future.
