Union Minister for Labour and Employment Dr Mansukh Mandaviya today chaired the 239th meeting of the Central Board of Trustees (CBT), Employees’ Provident Fund (EPF) in New Delhi. In a social media post, Dr Mandaviya informed that during the meeting, several important decisions were taken to enhance Ease of Living for crores of our hard-working workers and to promote greater Ease of Doing Business for employers. The Ministry of Labour and Employment, in a statement, said that CBT has recommended 8.25% annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2025-26. The interest rate would be officially notified by the government, following which EPFO would credit the rate of interest into the subscribers’ accounts. The decision benefits crores of workers by strengthening their retirement security while reaffirming EPFO’s commitment to safeguarding contributions and delivering prudent, sustainable, and attractive returns compared to other similar investment avenues.
The Ministry added that the Board has also approved a one-time Amnesty Scheme to address compliance issues arising from income tax-recognised trusts. Along with this, several schemes, including a new simplified SOP on EPF exemption, the new EPF, EPS and EDLI and Schemes in Alignment with the Code on Social Security, 2020, to enhance efficiency, transparency and ease of compliance, were also approved.
