‘EPFO in process of crediting 8.15% interest for FY23’

The 234th meeting of the EPFO’s Central Board of Trustees was held Tuesday in New Delhi wherein the Board approved the EPFO’s annual report for 2022-23 and recommended it to the government for placing before Parliament. As per the annual report, total investment corpus including pension and provident funds stood at Rs 21.36 lakh crore in 2022-23, up from Rs 18.3 lakh crore a year ago. It received provident fund contributions of Rs 2.12 lakh crore in 2022-23 as against Rs 1.69 lakh crore in the previous year. Total investments for the EPFO as on March 31, 2023 stood at Rs 13.04 lakh crore compared with Rs 11 lakh crore in the previous year, with net addition in investments at face value during 2022-23 at Rs 2.03 lakh crore.

The Board also approved the proposal for surrender of exemption of 13 establishments and proposal for cancellation of exemption of six establishments and discussed HR and IT related issues along with the progress made on higher pension option for its subscribers so far.