These EPF members have started receiving interest payments for FY 2023-24; check EPFO’s statement, 4 ways to check EPF balance
EPF members who are retiring are already getting interest along with their PF settlements.
When will EPF interest be credited for FY 2023-24?Here’s what EPFO has said, 4 ways to check PF balance
What is the EPF interest rate for FY 2023-24?
The Government of India has authorized and informed that interest rate for EPF members for the Financial Year 2023–2024 is 8.25% on May 31, 2024.
The EPFO also said that EPF members' interest rates are not disclosed on a quarterly basis. The annual rate of interest is declared after the end of financial year in the first quarter of ensuing financial year
The EPFO posted on social media X, “The rate of interest for EPF members is not declared quarterly. Annual rate of interest, in general, is declared after the end of financial year in the first quarter of ensuing financial year. Accordingly, rate of interest for the Financial Year 2023-24 @ 8.25% for EPF members had already been approved by Government of India & notified by EPFO on 31-05 2024. The interest at the above revised rates is already being paid to outgoing members in their final PF settlements.”
However, with regards to active EPF members, the EPFO has yet to give any clarifications as to when they will receive the interest payments for FY2023-24. Many active members have asked EPFO on social media as to when they will receive the EPF credit.
How to check EPF balance
An employee whose EPF account is managed by the EPFO can check the account balance using following four ways:
a) By using Umang app
b) By
