When Is EPF Interest for FY 2023-24 Be Credited? What Are the Steps to Check PF Balance Online?

29 Apr, 2024

The recent hike in interest rates by the Employee's Provident Fund Organisation (EPFO) for PF deposits in the financial year 2023-24 has sparked interest among EPF members regarding the timeline for receiving their interest. Assuring members, EPFO has confirmed that the distribution process is currently in progress, indicating that employees can anticipate receiving their EPF interest in the near future. 

The latest adjustment in the interest rate by the Employee's Provident Fund Organisation (EPFO) for the fiscal year 2023-24 sees a rise to 8.25% from the previous rate of 8.15%. On various social media platforms, numerous individuals have expressed inquiries regarding the crediting of interest. 

The user inquired, "When will EPFO credit the interest for subscribers for FY-2023-24? This action will enhance EPFO's reputation, and subscribers will appreciate the Central Govt." In response, EPFO promptly assured, "Dear member, the process is underway and will be completed shortly. Once the interest is credited, it will be fully accumulated and paid without any loss." As of March 2024, EPFO has credited interest for FY2022-23 to 28.17 crore member accounts. EPFO shared on social media that interest for FY2022-23 has been credited to 28.17 crore member accounts, advising them to review their EPF passbook.

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Publisher: Monisha Ponnappa | Bizprout Expert Systems Private limited