Employees are receiving pre-Diwali good news as the Employees’ Provident Fund Organization (EPFO) has initiated the transfer of interest money to Provident Fund Accounts (PF Accounts). For the financial year 2022-23, EPFO fixed the interest rate at 8.15 percent. Some employees have reported receiving the interest money in their accounts, while others may experience a delay as the process is ongoing.
EPFO reassured the public that the entire process is in progress and requested patience, emphasizing that interest money will be credited soon. Union Minister Bhupendra Yadav mentioned that interest money has already been transferred to a total of 24 crore accounts. The interest rate for PF is determined annually by the Central Board of Trustees of EPFO in consultation with the Finance Ministry. Subscribers can check their balances through various methods, including text messages, missed calls, the Omung app, and the EPFO website.