The Employees’ Provident Fund Organisation (EPFO), under the Ministry of Labour and Employment, Government of India, has announced the interest rate for Employees’ Provident Fund (EPF) accounts for the fiscal year 2022-23. Members of the EPF scheme will be credited with an interest rate of 8.15% for the said period.
This decision, as outlined in the directive from the head office of the EPFO, has been approved by the Central Government as per the parameters established in Para 60(1) of the Employees’ Provident Fund Scheme, 1952. The move reflects the ongoing commitment of the government to provide competitive interest rates to EPF members, thereby encouraging savings and providing financial security. The directive also makes it incumbent on all relevant officials, across zonal and regional offices, to take the necessary steps to ensure that the declared interest rate is credited to the members’ accounts.
EMPLOYEES’ PROVIDENT FUND ORGANISATION
MINISTRY OF LABOUR & EMPLOYMENT. GOVERNMENT OF INDIA
Head Office
Bhavishya Nidhi Bhawan, 14. Bhikaiji Cama Place, New Delhi-110066
Website: https://www.epfindia.gov.in
File No.INV-11/2/2021-INV-2766 Dated: 24th July, 2023
To,
All ACC(HQ)/ACC- Incharge of Zonal Offices
All RPFC-I/ Officers-In-Charge, Regional offices.
Subject: Declaration of Rate of Interest for the Employees’ Provident Fund Members Account for the year 2022-23- regarding
Sir,
The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees’ Provident Fund Scheme, 1952 to credit interest@ 8.15 % for the year 2022-23 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952.
2. You are accordingly, requested to issue necessary instructions to all concerned for crediting the said interest to the members’ accounts.
(Authority: – Ministry of Labour and Employment letter no. R-11018/01/2023-SS-II dated 18.07.2023.)
Yours’ faithfully,
(MSKVV Satyanarayana)
Addl. Central P. F. Commissioner (Investment)
Copy to,
1. PPS to Secretary, Ministry of Labour & Employment – for information
2. PPS to AS, Ministry of Labour & Employment – for information
3. PPS to AS&FA, Ministry of Labour & Employment – for information
4. OSD to Central Provident Fund Commissioner – for information
5. PS to Central Provident Fund Commissioner – for information
6. PPS to FA&CAO and CVO – for information
7. All CBT Members.
8. All ACC(HQ), Head Office
9. Director, PDNASS, New Delhi
10. All Zonal Dy. Directors (Vig.)/ All Zonal Audit Officers.
11. Addl. Central P. F. Commissioner (HQ)/ (IS) – for information & necessary action 12.Addl. Central P. F. Commissioner (HQ)/(Exemption) – for information and necessary action
13. Addl. Central P.F. Commissioner (F&A/VVSU/CAIU) – for information and necessary action
14. Officer-in-Charge. ZTI, Kolkata, Ujjain, Faridabad & Chennai & Sub-ZTI, Shillong
15. All officers in Head office.
16. Central Organisations of Employers – CCI, CII, ASSOCHAM, Fl CCI & PHO. 17.Central Organisations of Employees – All Central Trade Unions. w.r.t Letter No.R-11018/ 1/ 2017 -SS-II
18. Director (SS-II), Ministry of Labour & Employment, New Delhi
19. Director (Budget), Ministry of Finance, D/o Economic Affairs, Budget Division, New Delhi.
20. RPFC-I (In-Charge), National Data Centre, for uploading the orders on the EPFO website.
(M. M. Ashraf)
Regional P. F. Commissioner – I (Investment)
