Government starts crediting EPF interest for FY 2022-23

Government starts crediting interest for EPFO user
Employees' Provident Fund Organisation is giving 8.15% interest this year and has already credited interest in more than 24 crore accounts.

The Employees’ Provident Fund Organisation (EPFO) has started crediting the interest to provident fund (PF) accounts, the government body said in a statement.

The rate of interest on the PF account investment for the financial year 2022-23 is 8.15%.

Union Minister for Labour & Employment, Environment, Forest & Climate Change, Shri Bhupender Yadav has expressed satisfaction that EPFO is giving 8.15% interest this year and has already credited interest in more than 24 crore accounts.

Earlier, responding to a query on X (formerly Twitter) about crediting the interest to PF accounts, the provident fund regulatory body said, “The process is in the pipeline and may be shown there very shortly.”

“Whenever the interest will be credited, it will be accumulated and paid in full. There would be no loss of interest. Please maintain patience”, it said.

There are several schemes under the Employees’ Provident Fund Organisation. Under this scheme, EPFO announces benefits payable to children, widows & widowers under EPS’95.

The EPFO shared in a Tweet the benefits payable to the widows/ widowers and children under this particular scheme. The Tweet said, “Benefits payable to Widow/Widower & Children under EPS’95.”

The benefits payable to the widow/ widower are as follows:

1) In case, a member dies while in service, the widow or widower is entitled for a monthly pension of Rs 1000.

2) In case of death of the pensioner, the pension to his or her widow or widower is 50 per cent of the pension.

The benefits available for the children under EPS ’95 scheme are as follows:

1) Pension amount is 25 per cent of monthly widow/widower pension, for each child at a time, subject to maximum 2 children at a time.

2) The pension will be payable for two children at a time, till 25 years of age.

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