- The Employees’ Provident Fund Organisation (EPFO) has set an interest rate of 8.25 percent on Employees’ Provident Fund deposits for the fiscal year 2023-24.
- The decision was made during the 235th meeting of the Central Board of Trustees, EPFO, held in New Delhi on February 10, 2024.
- Labour and Employment Minister Bhupender Yadav, who chaired the meeting, announced the decision in a social media post.
- This interest rate is the highest in the past three years, reflecting a positive change in returns for EPF contributors.
- The move is described as a step towards fulfilling Prime Minister Narendra Modi’s commitment to enhancing social security for India’s workforce.
Q: What is the full form of EPFO?
a) Employees’ Provident Fund Organisation
b) Economic Protection and Financial Oversight
c) Employment Promotion and Financial Operations
d) Essential Provident Fund Obligation
Ans : a) Employees’ Provident Fund Organisation
