Centre ratifies 8.15% interest rate for EPF subscribers for 2022-23

The Centre on Monday ratified the 8.15 per cent interest rate on deposits below the Employees Provident Fund (EPFO) scheme for 2022-23.

On March 28, the EPFO had barely hiked the interest rate on EPF deposits to eight.15 per cent for 2022-23 for its over six crore subscribers.

As per conference, the labour ministry sends the interest rate suggestions to the Finance Ministry for ratification.

With the federal government having given its consent to the interest rate, the EPFO can now start crediting it to EPF subscribers for 2022-23.

(With inputs from IANS)