The Centre on Monday ratified the 8.15 per cent interest rate on deposits under the Employees Provident Fund (EPFO) scheme for 2022-23.
On March 28, the EPFO had slightly hiked the interest rate on EPF deposits to 8.15 per cent for 2022-23 for its over six crore subscribers.
As per convention, the labour ministry sends the interest rate recommendations to the Finance Ministry for ratification.
With the government having given its consent to the interest rate, the EPFO can now begin crediting it to EPF subscribers for 2022-23.
(With inputs from IANS)
