EPFO fixes 8.25% interest rate on employees' provident fund for 2023-24
The Hindu
EPFO fixes three-year high interest rate of 8.25% on EPF deposits for 2023-24, highest since 1977-78.
The Central Board of Trustees of the Employees' Provident Fund Organisation (EPFO), has recommended an interest rate of 8.25% on Provident Fund deposits for 2023-24. At present, the interest rate is 8.15%.
“The move is a step towards fulfilling PM Modi’s guarantee of strengthening social security for India’s workforce,” said Union Labour Minister Bhupendra Yadav.
Also read: The woes of pensioners and PF members
In March 2023, the EPFO had increased the interest rate on EPF marginally to 8.15% for 2022-23 from 8.10% in 2021-22.
In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over six crore subscribers, from 8.5% in 2020-21.
This was the lowest since 1977-78, when the EPF interest rate stood at 8%.
"The EPFO's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.25% rate of interest on EPF for 2023-24 at its meeting on Saturday,” a source said.
Silver futures soar to ₹2.32 lakh/kg as global prices exceed $75, marking a record high in commodities trading.
Stock markets decline as Sensex and Nifty fall amid foreign fund outflows and low trading volumes on December 26, 2025.
Rupee drops 23 paise to 89.94 against the dollar amid negative equity trends and rising crude prices.
The commencement of commercial flight from the Navi Mumbai International Airport (NMIA) is expected to speed up infrastructure and real estate development across Navi Mumbai and surrounding regions, analysts & industry executives said.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.