In 2024-25, the organization processed over 50.8 million claims worth Rs 2.05 lakh crore when compared to 44.5 million claims amounting to Rs 1.82 lakh crore settled in the previous year, as per the official data.
The committees are analysing the data to finalise the numbers and are expected to propose a rate that aligns with the preceding years, said an official.
At present, EPFO serves over 65 million subscribers. The organisation, in 2023-24, had given 8.25% interest on an income of Rs 1,07,000 crore, and in 2022-23 it offered 8.15% interest on income of Rs 91,151.66 crore. Back in 2002-03, EPFO provided 9.50% as interest rate.
Here, it must be noted that the proposed interest rate by EPFO and CBT has to be approved by the finance ministry prior to being notified and credited to EPFO subscribers’ accounts.
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