The EPFO rate for the fiscal year 2022- 2023 has been decided at 8.1%. These EPF rates remain functional from 1st April of one year to 31st March of the next year. The PF interest rate of 8.1% is valid on EPF deposits made from 1st April 2022 to 31st March 2023.
The latest Supreme Court judgment - dated November 4, 2022 - has confirmed the following:
a) Any individual who joined the Employees' Provident Fund (EPF) Scheme on or after September 1, 2014, will not be eligible to join the Employees' Pension Scheme (EPS) if their basic salary exceeds Rs 15,000 per month