New Delhi, March 1 -- The Employees' Provident Fund Organisation (EPFO), the State-run retirement fund manager, has decided to maintain the interest rate on provident fund deposits for 2024-25 at 8.25%, keeping the widely watched metric of middle-class savings unchanged despite global financial uncertainties.
Provident funds provide retirement income and a financial safety net for nearly 70 million salaried Indians, often serving as the key corpus of lifetime savings for working people.
The central board of trustees of EPFO on Friday discussed the financial investments and projected returns of the fund manager during the crucial rate-setting meet. Union labour minister Mansukh Mandaviya chaired the board's meeting, which has representativ...