EPF Rate Increased To 8.15% In 2023-2024 FY

In good news for employees, the Union Labour and Employment Ministry increased the marginal interest rate of Employees Provident Fund (EPF) to 8.15% from previous 8.1%. The decision was taken after a meeting with the Ministry of Labourer and Central board of trustees of the Employees' Provident Fund Organisation. The Ministry further said, the  interest rate would be officially notified in the government gazette after approval of Ministry of Finance.