Waiting for your PF interest? EPFO says 8.25% credit will be visible by July 15

Labour Minister Mansukh Mandaviya said the annual interest at the approved rate of 8.25 per cent is being processed for around 34 crore member accounts.

Published on: Jul 8, 2026, 19:35:53 IST

Edited by Shivya Kanojia

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Employees' Provident Fund Organisation (EPFO) members are expected to see the interest credited to their provident fund passbooks by July 15, with the retirement fund body beginning the processing of interest for FY26 under its newly launched centralised digital system.

The total payout is estimated at more than ₹1.44 lakh crore. (MINT_PRINT)

Labour Minister Mansukh Mandaviya on Wednesday said the annual interest at the approved rate of 8.25 per cent is being processed for around 34 crore member accounts. The total payout is estimated at more than ₹1.44 lakh crore, news agency PTI reported.

Also read | Big changes from July 1: Costlier passports, free Aadhaar updates, EPFO services

"Annual interest for FY26 at the rate of 8.25 per cent to 34 crore member accounts, estimated at over ₹1.44 lakh crore, will be auto-processed and then verified by Field Authorities before being credited to the member account balances. Members will be able to view the interest credit in their passbook by July 15," the minister said.

The government had approved the 8.25 per cent interest rate for FY26 last month.

New CITES platform changes how EPFO functions

The minister said the online access has become possible with the rollout of 2.01 CITES (Centralised IT-Enabled Services), a system developed to improve efficiency, transparency and ease of access for EPFO members.

Also read | EPFO 3.0 to enable PF withdrawal via ATM, UPI soon; rollout expected soon

He explained that the organisation has moved away from its earlier decentralised setup, where each field office maintained a separate database. With the migration to a single centralised database, member records are now available across the country through a unified digital platform.

According to Mandaviya, interest payments were earlier processed only in October or November after government approval. The new system is expected to significantly reduce that timeline.

Members can access PF services from anywhere

With the centralised architecture in place, EPFO members will no longer be tied to a specific office for most services.

Also read | EPFO tightens rules for private trusts with new SOP

They will be able to access their PF balance, claim status, pensionable service records and details of benefits availed through a unified digital interface, regardless of their location.

The new system also allows claim settlements to be processed centrally and routed through faster electronic payment channels, enabling settlement amounts to be credited directly to members' bank accounts in a secure and timely manner.

Interest on final settlements, withdrawals also revised

The upgraded system also changes the way interest is calculated for final PF settlements. Instead of being calculated only until the last day of the previous month, interest will now be calculated up to the actual date of payment authorisation.

EPFO has also simplified the rules for partial withdrawals by reducing the existing 13 categories to three broad heads:

Essential needs, including illness, education and marriage
Housing needs
Special circumstances

Members will also be able to withdraw up to 75 per cent of their total PF balance under the revised framework.

Automatic PF transfers and nationwide pension payments

Another key change relates to job switches. Members with Aadhaar-linked Universal Account Number (UAN)-based PF accounts will no longer have to apply separately for transferring their provident fund accumulations. Such transfers will now be initiated and settled automatically.

The centralised pension payment system has also been expanded. Pension claims processed at any regional office can now be credited through any bank account across the country, replacing the earlier system under which pension payments were linked to a specific bank branch mentioned in the Pension Payment Order (PPO).

(With PTI inputs)

ABOUT THE AUTHOR
Shivya Kanojia
Shivya Kanojia is a journalist at Hindustan Times, where she works in the fast-paced digital news ecosystem with a strong sense of editorial judgement and a clear understanding of what makes a story both important and traffic-driven. An alumna of the Indian Institute of Mass Communication (IIMC), Shivya brings a thoughtful balance of news value and audience relevance to her work, ensuring stories resonate beyond the immediate headline. Over the course of her three-year journey in the digital news space, Shivya has worked across a wide range of beats, including politics, civic issues, human-interest features and trending news. This diverse exposure has shaped her ability to approach stories with nuance, adaptability and context, whether she is breaking down complex developments or spotlighting everyday narratives that often go unnoticed. She is particularly drawn to human-interest stories, interviews and explainers that offer depth and clarity, aiming to move past surface-level reporting to explore the people, emotions and circumstances behind the news. Prior to joining Hindustan Times, Shivya worked with Firstpost and Times Now, where she covered a broad spectrum of topics and honed her skills in digital journalism . Outside the newsroom, Shivya enjoys discovering new cafés, drawn to good coffee, cosy spaces and unhurried conversations. Shopping is another pastime she cherishes, not always out of necessity, but often guided by instinct and the simple joy of stumbling upon unexpected finds. Above all, she treasures time spent with loved ones, finding meaning in shared laughter, simple moments and memories that linger long after.Read More

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