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The annual interest on Employees’ Provident Fund (EPF) deposits will be credited to subscribers’ accounts by July 15, Union Labour Minister Mansukh Mandaviya said on Wednesday (July 8, 2026).
Talking to reporters on the Centralised IT Enabled Services (CITES) project for updating the database of the Employees Provident Fund Organisation (EPFO), the Minister said interest amounting to over ₹1.44 lakh crore would be credited to accounts of 34 crore members. The Union Finance Ministry had recently approved the recommendation of the EPFO’s Central Board of Trustees to provide interest at the rate of 8.25%.
The Minister said that under the new system, the interest would be auto-processed and then verified by field authorities before being credited to member accounts. “Members will be able to view the interest credit in their passbooks by July 15. Earlier, after the EPF interest rate was declared, it typically took until October or November for the interest to be credited,” the Minister said.
The CITES project, he said, is designed to enhance member convenience, improve EPFO’s operational efficiency, and deliver transparent and seamless citizen-centric services. “EPFO has completed the process of migrating its entire database of member records to the new centralised database. Now, a member’s service request can be processed from any authorised location across the country,” he added.
Read | Old wine, new bottle: on the EPFO’s recent changes
Mr. Mandaviya said claims would now undergo automated pre-validation prior to processing at EPFO offices. “Any deficiencies or discrepancies will be identified upfront, and appropriate guidance will be provided to members, thereby significantly reducing claim rejections and improving first-time acceptance rates. Members will also be able to know the eligible amount they can apply for withdrawal from their PF accounts under the different types of withdrawals permitted and can make informed choices,” the Minister said.
He said the partial withdrawal rules have been streamlined into three simplified categories—essential needs (such as illness, education, and marriage), housing needs, and special circumstances—making the withdrawal process simpler and easier to understand. “Members will now be able to withdraw up to 75% of their total PF balance,” he added.
Published – July 08, 2026 10:28 pm IST
