Oct 17, 2024
EPF interest rate is the rate at which the EPF balance earns interest annually. Here are some key points to consider:
Calculation: EPF interest is calculated on a monthly basis and is credited annually. The interest rate is declared by the government every year.
Benefits: EPF interest helps in increasing the EPF balance and provides a substantial corpus at the time of retirement.
It is important for employees to keep track of the EPF interest rate and plan their savings accordingly.