PF Interest at 8.25% to Be Credited by July 15; EPFO Rolls Out New Centralized IT System

Punjab Newsline | New Delhi

In a major relief for salaried employees and pensioners, the government has started the process of crediting annual interest to Provident Fund (PF) accounts. Union Labour Minister Mansukh Mandaviya announced on Wednesday that the 8.25% annual interest for the financial year 2025-26 will be credited to EPF members' accounts by July 15.

According to the minister, nearly ₹1.44 lakh crore in interest will be transferred directly to the accounts of around 34 crore EPF account holders. The interest payment is being processed through an automated system, and once field-level verification is completed, members will be able to see the credited amount in their online EPF passbooks.

The minister noted that the new automated process has significantly reduced the time required for interest credit. Earlier, members often had to wait until October or November for the annual interest to be reflected in their accounts, but the upgraded system is enabling much earlier payments.

Alongside the interest payout, the Employees' Provident Fund Organisation (EPFO) has launched a new centralized IT platform called CITES 2.01, aimed at making PF and pension services more transparent, efficient, and user-friendly.

Under the new centralized system, EPFO has replaced its earlier decentralized database, where each regional office maintained separate records. With all member data now integrated into a single database, subscribers will no longer need to visit a specific regional office for services. Instead, they can access PF-related services from any authorized location across the country through a unified digital interface.

The new platform also allows members to conveniently track their PF passbook, claim status, and pension service records online.

Pensioners are expected to benefit significantly from the reforms as well. Under the Centralized Pension Payment System (CPPS), pension payments can now be credited to any bank account across India.

Previously, pensioners were required to receive their pension only through the bank branch linked to their Pension Payment Order (PPO). The removal of this restriction is expected to make pension disbursement more convenient, especially for senior citizens, while reducing paperwork and eliminating the need for frequent visits to banks and government offices.