Govt has transferred EPF interest to 32.39 crore accounts, check yours now

EPFO Interest- Big news for EPFO members. Modi government has transferred interest money to the accounts of about 32.39 crore people. People were waiting for the interest to be transferred for a long time. Now this interest has been added to the EPF accounts of the employees. Actually, this year the Employees Provident Fund Organization (EPFO) has given a big relief to crores of employees of the country.

Usually every year EPF interest is credited in August or September, but this time the interest has been added to the account in the beginning of July itself. This is considered to be another big operational milestone for EPFO. Once you also open the passbook of your EPF account and check whether interest has come on PF or not?

Interest received in 32.39 crore accounts?

According to Union Labor Minister Mansukh Mandaviya, for the financial year 2024-25, interest has been added to 32.39 crore accounts out of 33.56 crore accounts under 13.88 lakh institutions so far. That is, the work has been completed in 99.9% institutions and 96.51% accounts. This is much better than last year, because at that time interest had come in only 86% of the accounts till this date.

What is EPF interest rate?

In January 2025, EPFO announced that the EPF interest rate for 2023-24 will remain at 8.15%. This rate has remained almost stable for the last 5 years. About Rs 10 lakh crore is invested in EPFO every year and now its total assets (Assets under Management) have exceeded Rs 17 lakh crore. It has become one of the largest pension schemes in the world.

How did the processing become so fast this time?

This time EPFO took several technical and administrative steps to add interest faster. UAN, bank and employer records were better linked, which made the process easier. Work was done faster with automation and more staff. Also, manual processing was reduced with automated tools. All employers were given a deadline of March end to update the records, which ensured accuracy and timely information. Work was being monitored daily through a live dashboard.