EPFO update: An important meeting is going to be held on 28th February, everyone will be benefits

Big news for EPFO members. The Employees Provident Fund Organization is constantly updating its policies to better serve central employees. EPFO is making changes to streamline the PF process, making it more user-friendly and advantageous for workers. This includes allowing employees to update their personal information on their own and simplifying the money withdrawal process.

Now, central employees are eagerly awaiting some good news from EPFO, especially with a meeting scheduled for February 28. This meeting could lead to significant decisions affecting employees, with many speculating about a potential interest rate hike.

There’s a strong belief that the interest rate on EPFO PF might go up, possibly reaching 8.25 percent during the CBT meeting. Currently, the interest rate stands at 8.25 percent, which was an increase from 8.15 percent for the financial year 24.

EPFO has a history of adjusting interest rates on PF. For FY24, the rate was raised to 8.25 percent per annum, up from 8.15% in FY23 and 8.10% in FY22. The lowest rate in recent years was 8.10% in 2021-22. Over the last decade, rates have varied, peaking at 9.50% in 2010-11 and remaining at 8.50% from 2019 to 2021. There’s a good chance that EPFO will consider increasing interest rates for FY25 as well.