New EPFO amnesty scheme approved—how it could affect employees and trusts

Key Highlights

• In February last year, the EPFO had retained the rate of interest at 8.25 per cent for 2024-25.
• The Employees' Provident Fund Organisation (EPFO) in 2024 increased the interest rate marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.
• The Central Board of Trustees, in its meeting chaired by Union Minister for Labour & Employment Mansukh Mandaviya on Monday, recommended an 8.25 per cent annual rate of interest to be credited on EPF accumulations in members' accounts for the financial year 2025-26, the ministry said.
• The Central Board of Trustees (CBT) is the apex decision-making body of the EPFO.
• The interest rate would be officially notified by the Government of India, following which the EPFO would credit the rate of interest into the subscribers' accounts.