EPFO keeps PF interest unchanged at 8.25% for 2024-25, gains could help over 7 crore subscribers

The Employees’ Provident Fund Organisation (EPFO) has decided to keep the interest rate on provident fund (PF) deposits unchanged at 8.25% for the financial year 2024-25.

The decision, reported first by The Economic Times, ensures consistent returns for over 7 crore salaried employees and reflects the fund’s ability to generate stable earnings amid economic fluctuations.

Robust Growth in PF Disbursements

EPFO’s move comes on the back of a strong financial performance. In 2024-25, the retirement fund body processed 50.8 million claims worth ₹2.05 lakh crore, marking a rise from the 44.5 million claims amounting to ₹1.82 lakh crore in the previous year.

The 8.25% interest rate for 2023-24 was based on EPFO’s highest-ever income of ₹1.07 lakh crore, generated from a corpus of ₹13 lakh crore. In comparison, the 8.15% rate declared in 2022-23 was supported by an income of ₹91,151.66 crore on a principal of ₹11.02 lakh crore.

Interest Rate Trends Over the Years

EPFO’s interest rates have seen a gradual decline over the past decade, though a slight upward trajectory has been observed in recent years. In 2018-19, the rate stood at 8.65%, dipping to 8.5% in 2019-20 and further to 8.1% in 2021-22—the lowest in over 40 years. The highest recent rates were 8.8% in 2015-16 and 8.75% in 2013-14 and 2014-15.

How to Check Your EPF Balance

Subscribers can access their PF balance through multiple platforms:

Umang App: Download and register with a mobile number to check the passbook, claims, and balance.

EPFO Portal: Visit the official EPFO website, log in with your UAN and password under the "Member Passbook" section.

Missed Call Service: Give a missed call to 011-22901406 from your UAN-registered mobile number (ensure Aadhaar, PAN, and bank details are linked).

Approval and Disbursement Process

The interest rate proposal is finalised by EPFO’s Central Board of Trustees (CBT), which includes representatives from employees, employers, state governments, and the labour ministry. However, it requires approval from the finance ministry before formal notification. Typically, the credited interest reflects in subscribers' accounts during the second half of the financial year.