Brief by Shorts91 NewsDesk / 01:24pm on 24 May 2025,Saturday India
The Indian government has ratified an 8.25% interest rate on Employees' Provident Fund (EPF) deposits for FY 2024-25, maintaining the previous year's rate. This decision, confirmed by the Central Board of Trustees (CBT) of the EPFO, awaits formal notification from the Finance Ministry, after which interest will be credited to over seven crore subscribers' accounts. The EPF continues to offer competitive, tax-free returns compared to other fixed-income instruments. Additionally, the CBT approved enhancements to the Employees' Deposit Linked Insurance (EDLI) scheme, including a ₹50,000 minimum benefit for deaths within one year of service and coverage for deaths occurring within six months of the last contribution, benefiting over 20,000 families annually. (PC: News18 & Outlook India)
