<p>The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday.</p>.<p>EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022.</p>.<p>This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.</p>.<p>"The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees (CBT) is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon," a source said.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/city/top-bengaluru-stories/bengaluru-epfo-outreach-programme-on-march-27-1203343.html" target="_blank">Bengaluru: EPFO outreach programme on March 27</a></strong><br /><br />Besides interest rate, the CBT will also discuss the annual accounts of the EPFO for 2022-23.</p>.<p>The trustees will also deliberate on the action taken by the EPFO on the Supreme Court order for giving a four-month window to Employees' Pension Scheme 1995 subscribers to opt for higher pension.</p>.<p>The EPFO has provided the facility to opt for higher pension to its subscribers till May 3, 2023.</p>.<p>The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the CBT in March 2021.</p>.<p>After the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent to the Ministry of Finance for concurrence.</p>.<p>EPFO provides the rate of interest only after it is ratified by the government through the finance ministry.</p>.<p>In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.</p>.<p>EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.</p>.<p>The retirement fund body had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.</p>.<p>The rate of interest was 8.25 per cent in 2011-12.</p>
<p>The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday.</p>.<p>EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022.</p>.<p>This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.</p>.<p>"The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees (CBT) is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon," a source said.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/city/top-bengaluru-stories/bengaluru-epfo-outreach-programme-on-march-27-1203343.html" target="_blank">Bengaluru: EPFO outreach programme on March 27</a></strong><br /><br />Besides interest rate, the CBT will also discuss the annual accounts of the EPFO for 2022-23.</p>.<p>The trustees will also deliberate on the action taken by the EPFO on the Supreme Court order for giving a four-month window to Employees' Pension Scheme 1995 subscribers to opt for higher pension.</p>.<p>The EPFO has provided the facility to opt for higher pension to its subscribers till May 3, 2023.</p>.<p>The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the CBT in March 2021.</p>.<p>After the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent to the Ministry of Finance for concurrence.</p>.<p>EPFO provides the rate of interest only after it is ratified by the government through the finance ministry.</p>.<p>In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.</p>.<p>EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.</p>.<p>The retirement fund body had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.</p>.<p>The rate of interest was 8.25 per cent in 2011-12.</p>