This can be a great news for all employees. EPFO is considering an increase in the interest rate of its ever popular scheme, Employee Provident Fund (EPF). Currently, the interest rate on EPF stands at 8.75%. It could be increased to 9% this year.
The reason for increase in interest rates could be due to increased yields on the investments of EPFO. The surplus available due to this will be used to pay the differential amount.