HOW INTEREST IS PAID ON PF IF CLAIM IS MADE AFTER MARCH 2024? BROKEN PERIOD INTEREST HOW CREDITED AT THE TIME OF CLAIM APRROVAL?

Ans: Here's how interest is applied on your PF if you claim it after March 2024:

Interest Rate:

The interest rate for the financial year 2023-24 (ending March 2024) has been declared as 8.25%. This will be applied to your PF balance until March 31st, 2024.
Broken Period Interest:

Interest for the period after March 2024 will be credited at a rate notified by the EPFO (Employees' Provident Fund Organisation) for that specific period. This rate is usually lower than the declared annual rate.
The EPFO typically announces the interest rate for the broken period later in the year.
Crediting Interest at Claim Approval:

When your PF claim is approved, the interest for the financial year 2023-24 (8.25%) will be automatically calculated and credited to your account.
The broken period interest will also be calculated based on the notified rate and credited at the time of claim settlement.
Here are some resources for further information:

The EPFO website might not have the latest broken period interest rate yet, but you can check for updates on their official site: https://www.epfindia.gov.in/
I hope this clarifies how interest is handled on PF claims made after March 2024.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in