EPF’s Interest Rate for FY25 Fixed: The Employees Provident Fund Organization (EPFO) has fixed the rate of interest on EPF account deposits for the financial year 2024-25.
According to the report of news agency PTI, the board of EPFO has fixed the interest rate on EPF deposits for the financial year 2024-25 at 8.25 percent. This is the highest in three financial years. It was 8.15 percent in the last financial year 2023 and 8.10 percent in the financial year 2022. Till now, the lowest rate of interest on EPF account was received in the financial year 1977-78 when its rate was 8 percent and after that its rate was 8.10 percent in the financial year 2021-22.
Employees also got a big gift in the budget
Union Finance Minister Nirmala Sitharaman announced a major relief to salaried employees in this year’s budget by making income up to Rs 12 lakh tax-free. Including standard deduction, this relief is on income up to Rs 12.75 lakh. The Finance Minister announced these reliefs while presenting the budget for the next financial year 2026.
Employees have got another relief this month
This month of February, another big relief has come and employees have also benefited from it. After a long wait, RBI finally cut the repo rate. After 5 years, RBI cut the repo rate and reduced it by 0.25 percent to 6.25 percent. When the repo rate is low, the loan installments are reduced.
