Big News for 6.5 Crore People Before the Budget! Know How to Check New Rates in Your PF Account

On July 23, as the budget is set to be presented, the government has already delivered a significant piece of good news to approximately 6.5 crore EPFO members. The government has approved an increase in the interest rates for EPFO (Employees' Provident Fund Organization) accounts, bringing added financial benefits to its members. In addition, the Ministry of Finance has confirmed that EPFO has commenced settlement of claims at an interest rate of 8.25% per year. The calculation of this interest rate is based on EPFO's income from its data and equity investments. This adjustment aims to provide greater returns on EPFO contributions, enhancing the financial security of its members. The move is anticipated to be well-received by EPFO members, offering them increased earnings on their provident fund contributions and reflecting the government's commitment to improving financial benefits for the workforce.