Currently, the EPFO has been settling PF withdrawal claims at 8.55% interest rate, approved for 2017-18.
The government has approved 8.65 per cent interest rate on employees' provident fund (EPF) for 2018-19, reported news agency Press Trust of India (PTI) quoting a source.
The interest amount will now be credited into the accounts of over 6 crore subscribers of retirement fund body Employees' Provident Fund Organization (EPFO), the report added.
In an EPF account, the employee contributes 12 per cent of the salary whereas an equal amount is contributed by the employer, according to the EPF website - epfindia.gov.in.