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GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
RAJYA SABHA
UNSTARRED QUESTION NO. 742
TO BE ANSWERED ON 05.02.2026
CHANGES IN EPFO SCHEME
742. SHRI SANDOSH KUMAR P:
Will the Minister of Labour and Employment be pleased to state:
(a) whether it is a fact that the Employees Provident Fund
Organization (EPFO) is considering enhancement of interest rate
for provident fund deposits;
(b) if so, the details thereof;
(c) whether Government is planning to make any other change in the
EPFO scheme as part of new Labour Code; and
(d) if so, the details thereof?
ANSWER
MINISTER OF STATE FOR LABOUR AND EMPLOYMENT
(SUSHRI SHOBHA KARANDLAJE)
(a) to (d): As per paragraph 60(1) of the Employees’ Provident Funds
Scheme 1952, EPFO is required to credit to the account of each
member interest at such rate as may be determined by the Central
Government in consultation with the Central Board of Trustees of the
Employees' Provident Fund.
Further, as per paragraph 60(4) of the Scheme, “in
determining the rate of interest, the Central Government shall satisfy
itself that there is no overdraw on the Interest Account as a result of
debit thereto of the interest credited to the accounts of members”.
As per Code on Social Security, 2020, Section 164(2)(b),
the existing EPFO schemes shall remain in force, to the extent they
are not inconsistent with the provisions of the Code, for a period of
one year from the date of commencement of the Code.
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