EPFO Meeting: The Modi government at the Centre has given such a gift to salaried people by increasing the amount of tax-free income that every employee is enthusiastic about. A series of announcements have been made in the budget for the middle class, which has been very beneficial. Do you know that the government can also give a big gift to PF employees now?
The government’s announcement for the middle class is also believed to have fueled market demand. After this, the government is expected to announce an increase in the interest rate on deposits for PF employees. This decision is believed to be possible at the Central Board of Trust 4 of EPFO meeting on February 28, where representatives of employee organizations will be present.
Interest can be increased.
The central government is now most focused on increasing the market demand. To give impetus to this, the government is making various plans. For this purpose, the government has made the income of salaried people tax free up to Rs 12 lakh annually. The government wants that when people save, they will focus on increasing domestic consumption as much as possible.
Now, it seems possible that a decision can be taken to increase the interest rate on PF for the year 2024-25. In the last two years, the government has done this. In the year 2022-23, it was decided to increase the interest rate of PF to 8.15 per cent. In 2023-24, it was increased to 8.25 percent. Looking at the base rate of banks, it is estimated that the interest rates on PF can be increased.
How many PF account holders across the country?
For information, let us tell you that EPFO has more than 7 crore PF account holders across the country. According to the annual report of 2023-24, the number of PF account holders was 7.37 crores. Similarly, the number of people depositing money in EPFO’s pension fund has also reached around 8 lakh. The government gives annual interest amounts to PF employees.
