What is the interest rate fixed by EPFO on employees' provident fund

The interest rate fixed by EPFO (Employees' Provident Fund Organization) on employees' provident fund for the year 2023-24 is as follows:

• EPFO has not yet announced the interest rate for the year 2023-24. The interest rate is typically declared at the beginning of the financial year, after considering various factors such as the income generated from investments.
• In previous years, the EPFO has generally provided competitive interest rates on employees' provident fund, ensuring growth and stability of the fund.
• For the financial year 2022-23, EPFO declared an interest rate of 8.50% on employees' provident fund.
• It is important to note that the interest rate may vary from year to year, depending on prevailing market conditions and the overall financial performance of EPFO.
• EPFO keeps the interest rate in line with the market rates to provide reasonable returns to the employees while maintaining the financial health of the organization.

Please note that the specific interest rate for the year 2023-24 will be announced by EPFO in due course.