New Delhi, May 24 -- The Union Government has ratified an interest rate of 8.25 per cent on the employees' provident fund for the financial year (FY) 2024-25.

In February, Union Minister for Labour & Employment Dr Mansukh Mandaviya chaired the 237th meeting of the Central Board of Trustees (CBT), EPF, in New Delhi, in which the recommendation was made.

During the meeting, the Central Board of Trustees (CBT) had recommended an 8.25 per cent annual rate of interest to be credited on Employees' Provident Fund (EPF) accumulations in members' accounts for the fiscal year 2024-25.

Following the official ratification, the EPFO will credit the rate of interest into the subscribers' accounts.

Compared to many other fixed-income instruments, th...