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The interest rate of 8.25 per cent on EPF is now higher as compared to small savings schemes like PPF, Sukanya Samriddhi Yojana and post office deposits, which offer up to 8.2 per cent annually
Retirement fund body EPFO on Saturday fixed a three-year high interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2023-24 EPF Interest Rate: Retirement Fund Body EPFO Fixes 8.25% Interest Rate on Employees’ Provident Fund for 2023–24.
EPFO Interest Rate: The Employees Provident Fund is a mandated contribution for salaried employees. 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. The employee's whole contribution is placed into the EPF account. In the case of the employer, just 3.67 percent is deposited into the EPF account. The remaining 8.33% goes to the Employees Pension Scheme (EPS).
The incident took place inside Sarnath Express when it arrived at the Raipur railway station.
This average annual return of 29.35 per cent in equities in the first week of February is more than triple the return of about 7.87 per cent seen in corporate bonds.