The Centre has made it clear in Parliament that there has been no official push from labour unions seeking a hike in the Employees’ Provident Fund (EPF) interest rate to 10 per cent. The clarification comes amid ongoing discussions and expectations among salaried individuals about better returns on their retirement savings. In a written reply to an unstarred question in the Lok Sabha dated March 30, 2026, Labour and Employment Minister Shobha Karandlaje said that the government has not received any formal representation from trade unions specifically demanding such an increase.
Addressing a query raised by Member of Parliament Vijayakumar alias Vijay Vasanth, the minister highlighted that no formal request has been submitted by labour organisations to raise the EPF interest rate to double digits.
How EPF Interest Rate Is Decided
Karandlaje also explained the mechanism used to determine EPF returns. She said, “Since the EPF interest rate is based on the actual income earned by the Provident Fund corpus, it is not comparable with any other variable.”
According to a report from The Economic Times, she further added, “Further, the rate of interest on EPF is recommended by the Central Board of Trustees (CBT), EPF, which is a tripartite body comprising representatives of the government, employers and employees.”
Currently, the EPF interest rate stands at 8.25 per cent, a level that has remained unchanged since its last revision for the financial year 2022-23.
New ‘Passbook Lite’ Feature For Subscribers
Meanwhile, the Employees’ Provident Fund Organisation (EPFO) has introduced a simplified way for members to track their account activity. Through the ‘Passbook Lite’ feature on the EPFO portal, users can quickly and easily access a summary of their contributions, withdrawals, and balances.
Here Are The Steps To Use This Feature:
Log in to the EPFO portal using your Universal Account Number (UAN)
Navigate to the ‘View’ section at the top
Select ‘Passbook Lite’ from the dropdown
Review the last five contributions
For a detailed statement, choose your Member ID and click ‘View Passbook’
The EPFO has also reassured members that delays in crediting interest do not lead to financial losses. Following a rule update in November 2024, subscribers now earn interest on their EPF balance until the date of claim settlement, instead of only up to the previous month. This change aims to safeguard returns and enhance transparency for account holders.
