Did the Govt Confirm the Interest Rate on PF Deposits at 8.25% for FY 2024-25?
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Synopsis
The confirmation of the PF interest rate at 8.25% for FY 2024-25 is significant for millions of employees. This decision highlights the government's commitment to supporting workers' savings while promoting employment growth, especially among the youth. Discover how these developments impact your retirement planning and the EPFO's future initiatives.
Key Takeaways
- The interest rate on PF deposits for FY 2024-25 is 8.25 percent.
- The rate remains unchanged from the previous fiscal year.
- EPFO's membership is increasing, with significant growth among younger employees.
- Government outreach initiatives are effectively raising awareness of employee benefits.
- Maintaining this interest rate reflects the government's commitment to employee welfare.
New Delhi, May 24 (NationPress) The Central Government has confirmed the interest rate on employees' provident fund (PF) deposits at 8.25 percent for the fiscal year 2024-25, maintaining the same rate as the previous year.
In February, the Employees' Provident Fund Organisation (EPFO) declared its decision to uphold the interest rate at 8.25 percent for FY25. This decision was approved during a meeting of the EPFO's Central Board of Trustees held in the national capital.
The Ministry of Finance has now officially sanctioned the interest rate for employees' PF deposits at 8.25 percent for FY25. A notification has been dispatched from the Labour Ministry to the retirement fund body this week, as per reliable sources.
The interest rate for EPF deposits for 2024-25 is set to be credited to the accounts of EPFO members.
Previously, the EPFO had raised the interest rate on EPF for its 7 crore members to 8.25 percent for 2023-24, an increase from 8.15 percent in 2022-23.
Additionally, the EPFO witnessed a net addition of 14.58 lakh members in March, marking a 1.15 percent increase in net payroll additions compared to March 2024. In March 2025, around 7.54 lakh new subscribers were enrolled, representing a 2.03 percent increase over February and 0.98 percent growth year-over-year compared to March 2024.
The Labour Ministry attributes the rise in new subscribers to enhanced employment opportunities, greater awareness of employee benefits, and successful outreach initiatives by the EPFO. Notably, the 18-25 age group dominates the data, with 4.45 lakh new subscribers added, which accounts for an impressive 58.94 percent of the total new subscribers in March 2025.
Furthermore, the net payroll addition for the 18-25 age group in March was approximately 6.68 lakh, reflecting a growth of 6.49 percent from the previous year in March 2024.
Point of View
The government's decision to maintain the PF interest rate at 8.25% for FY 2024-25 reflects a stable approach to employee benefits. This consistency is vital for fostering trust among employees and encouraging savings, particularly in challenging economic times. The rise in new subscribers indicates a positive trend in employment, underscoring the need for continued support in this area.
NationPress
19/08/2025
Frequently Asked Questions
What is the confirmed interest rate for PF deposits for FY 2024-25?
The confirmed interest rate on PF deposits for FY 2024-25 is 8.25 percent.
Which organization announced the interest rate?
The Employees' Provident Fund Organisation (EPFO) announced the interest rate.
What was the interest rate for the previous fiscal year?
The interest rate for the previous fiscal year was also 8.25 percent.
How many new subscribers did EPFO enroll in March 2025?
In March 2025, EPFO enrolled approximately 7.54 lakh new subscribers.
What age group saw the highest number of new subscribers?
The 18-25 age group saw the highest number of new subscribers, contributing to 58.94 percent of the total.
