ENA Knowledge Resource 2023-07-25 15:20:02 <p><span style="font-size:14px"><strong>New Delhi, July 25 (KNN)</strong> The Employees' Provident Fund Organisation (EPFO) has declared the interest rate as 8.15% for Employees' Provident Fund (EPF) accounts for the financial year 2022-23.</span></p> <p><span style="font-size:14px">The announcement was made by the EPFO via a circular dated July 24, 2023.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees Provident Fund Scheme, 1952 to credit interest @ 8.15% for the year 2022-23 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952, read the circular.</span></p> <p><span style="font-size:14px">The Employees Provident Fund is a mandated contribution for salaried employees.</span></p> <p><span style="font-size:14px">An employer is also obligated to make a matching contribution to the EPF account. On a monthly basis, an employee contributes 12% of his earnings to his EPF account.</span></p> <p><span style="font-size:14px">The employee's whole contribution is placed into the EPF account. In the case of the employer, just 3.67% is deposited into the EPF account. The remaining 8.33% goes to the Employees Pension Scheme (EPS). <em><strong>(KNN Bureau)</strong></em></span></p> 34209 https://knnindia.co.in/news/newsdetails/knowledge-resource/epfo-sets-815-as-epf-rate-of-interest-for-fy23 2023-07-25 15:20:02 knnindia.co.in