EPFO) has declared the interest rate as 8.15% for Employees' Provident Fund (EPF) accounts for the financial year 2022-23. In spite of the fact that interest is calculated on a monthly basis in an EPF account, deposits are made at the end of the fiscal year. The transferred interest is compounded and applied to the balance for the next month to determine interest on that month's balance.EPF contribution Salaried workers are required to make a contribution to the Employees Provident Fund.
Additionally, an employer is required to contribute in a matched manner to the EPF account. An employee contributes 12% of his income on a monthly basis to his EPF account. The EPF account receives the entire employee contribution.
Just 3.67 percent of the employer's salary is put into the EPF account. The Employees Pension Scheme (EPS) receives the remaining 8.33% of the total. Many EPF members are eagerly waiting for the interest credit and some people took complained the same on Twitter.
For all the interest related queries, EPF replied “The process is in 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.” Int on PF for fy 2022-2023 still not credited, not sure whether money also is safe or not When we will get the interest added to our passbook for FY 2022-23. Some Employees’ Provident Fund (EPF) subscribers are yet to receive their interest for FY22, while others have received it. However, time and again the EPFO has assured its subscribers that its interest credit is an ongoing process.
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