EPFO updates interest rules for final PF settlements

The Employees' Provident Fund Organisation (EPFO) has updated its rules regarding final provident fund (PF) settlements. Under the revised policy, members withdrawing their entire PF balance will earn interest up to the specific date their final payment is authorised.

Previously, interest was calculated using broad monthly cut-offs. This often resulted in members losing interest for the period between the end of the previous month and the date their claim was formally approved. The new system moves to a day-by-day interest calculation, ensuring members receive earnings for the entire duration up to and including the authorisation date.