EPF interest rate is the rate of interest which all the members of EPF gets on there deposits. The Central Government revises rate of interest on EPF scheme every year in the month of March/April depending upon the revenues. Change in interest rate of EPF affects all most 6 Crore people across the country who are part of this scheme.
The announcement of interest rate for EPF has recently made for the year 2012-13. As per the latest announcement on EPF interest rate for the financial year 2012-13, the government of India has increased the rate of interest from 8.25% to 8.5%. This increase of 0.25% for the year 2012-13 will benefit all covered under EPF scheme.
The interest of EPF gets credited to the members EPF account on monthly running balance with effect from the last day in each year. The rate of interest for the year 2012-2013 is 8.5%.
Employee Provident Fund Organization (EPFO), is a statutory body of the Government of India, who manages EPF fund by depositing these funds in life time banking scheme to provide retirement benefits (primarily) to the employee. The rate of interest of EPF scheme varies depending upon the returns incurred from these deposit scheme i.e revenues of the EPFO.
The rate of interest on Employee Provident Fund (EPF) and Voluntary Provident fund (VPF) has been revised by EPFO. The rate of interest has been raised from 8.25% to 8.5%. This new rate of interest will be applicable on both EPF and VPF for the year 2012-13.
But increase in interest rate is no doubt a great news for all most 6 Crore people who are part of these schemes.
EPF Interest Rate History