Staff provident fund organization
If you are also employed and your provident fund is cut then it is very good news for you. Actually, the government will deposit interest money in your PF account this week. Labor Minister Mansukh Mandavia said on Tuesday that the Retirement Fund Body EPFO will complete the process of depositing 8.25 percent interest in the account of shareholders for FY 2024-25.
Every year the Employees Provident Fund Organization (EPFO) deposits the interest amount in the accounts of its members after approval of the interest rate payable on the provident fund. Mandavia said that this year the annual provident fund (PF) accounts were to be updated for 13.88 lakh establishments with a total of 33.56 crore members. Out of these, interest has been deposited in accounts of 32.39 crore members of 13.86 lakh establishments till July 8.
8.25 percent interest is available
This means that the work of updating the PF accounts of about 99.9 percent establishments and 96.51 percent members has been completed annually. For FY 2024-25, interest is being paid at the rate of 8.25 percent on the amount deposited in the EPF account. The rate was approved by the central government on 22 May 2025. Mandavia said that after getting approval from the government, the EPFO started the work of putting the interest amount in PF accounts from the night of June 6, 2025. The Labor Minister said that the process of depositing interest in the accounts of members for the financial year 2023-24 started in August, which was completed in December.
Work completed in 1 week
He said that the process has now been adapted for rapid processing, due to which the majority of this process has been completed in June itself. He hoped that annual accounts regarding the remaining establishments would also be updated within this week. The EPFO had decided on February 28 to maintain an interest rate of 8.25 percent on the Employees Provident Fund (EPF) deposit for FY 2024-25. It was then sent for the consent of the Ministry of Finance. This is the same as the interest rate of FY 2023-24.