EPFO rate likely to be out today

The central board of trustees of the Employees’ Provident Fund Organisation are likely to announce the interest rate on provident fund deposits for 2024-25 at its meeting today.

The EPFO is expected to either keep the interest rate unchanged at 8.25%, as announced for 2023-24, or reduce it marginally but around 8%, depending on the rate proposed by the executive committee.

The proposed rate is mostly approved by the CBT as it is arrived at after computing the income and expenditure of EPFO and setting aside a certain amount of surplus for the retirement body for the current year. The labour and employment minister is the chairman of the CBT, comprising of representatives of employees, employers and state governments.


The other agenda items that will also be taken up for deliberations include a status note on the centralized pension payments system (CPPS) for disbursing pension through any bank, any branch, anywhere in India, one of the CBT members told ET, requesting anonymity.

Besides, the CBT will also be updated on the status of the Supreme Court Judgement regarding pension on higher wages, the member said.

“The other proposals include surrender or cancellation of exemption under Section 17 (4) of Employees’ Provident Fund & Miscellaneous Provision Act, 1952, action plan for pending exemption proposals recovery and status note on liquidation of arrear demand,” the member added.

According to the member, the EPFO is also expected to present before the CBT the contours of the Amnesty scheme, which has been approved by the CBT in its last meeting in November 2024

“Enhancement of benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme on the basis of current actuarial valuation may also be brought to the notice of CBT members for approval,” the member added.