Image used for informational purposes only. | Photo credit: Getty Images/iStockphoto
Annual interest on Employees Provident Fund (EPF) deposits will be credited to subscribers’ accounts by July 15, Union Labor Minister Mansukh Mandaviya said on Wednesday (July 8, 2026).
Talking to reporters about the Centralized IT Services (CITES) project to update the Employees’ Provident Fund Organization (EPFO) database, the minister said that interest amounting to over ₹1.44 crore will be credited to the accounts of 34 crore members. The Union Ministry of Finance recently approved the recommendation of the Central Board of Trustees of EPFO to provide interest rate at 8.25%.
The minister said that under the new system, interest will be automatically processed and then verified by local authorities before being credited to members’ accounts. “Members will be able to view the interest credit in their passbooks until July 15th. Previously, once the EPF interest rate was announced, it usually took until October or November for interest to be credited,” the minister said.
The CITES project aims to enhance member convenience, improve operational efficiency of EPFO and provide transparent and seamless citizen-centric services, he said. “EPFO has completed the process of migrating its entire member database to the new centralized database. Now a member’s service request can be processed from any authorized location across the country,” he added.
Read | Old wine, new bottle: latest changes in EPFO
Mr. Mandaviya said claims will now undergo automatic pre-screening before being processed at EPFO offices. “Any shortcomings or discrepancies will be identified in advance and appropriate guidance will be provided to members, which will significantly reduce claim rejections and improve 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 various types of withdrawals allowed and will be able to make an informed choice,” the minister said.
He said the partial waiver rules have been broken down into three simplified categories – basic needs (such as illness, education and marriage), housing needs and special circumstances – making the withdrawal process simpler and clearer. “Members will now be able to withdraw up to 75% of the total PF balance,” he added.
Published – Jul 8, 2026 10:28 pm EST.