New Delhi: Employees Provident Fund Organisation (EPFO) has an enormous bonanza in retailer for round 6 crore EPF subscribers. The retirement fund physique is reportedly planning to credit score 8.5 p.c interest for FY21 in the accounts of the PF Subscribers.
Media stories quoting sources mentioned, the Labour Ministry had given a go-ahead to the proposal in this regard and interest will be credited into beneficiaries account by July end itself. Â
It could be recalled that EPFO’s apex decision-making physique Central Board of Trustees determined to repair 8.5 per cent rate of interest for 2020-21 at its assembly in March this 12 months. While in March final 12 months, the EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent in 2018-19.
The EPF (Employees Provident Fund) interest rate supplied for 2019-20 was the bottom since 2012-13, when it was 8.5 per cent. The EPFO had supplied 8.65 per cent interest rate to its subscribers in 2016-17 and eight.55 per cent in 2017-18. The rate of interest was barely increased at 8.8 per cent in 2015-16. It had given 8.75 per cent rate of interest in 2013-14 in addition to 2014-15, increased than 8.5 per cent for 2012-13. The EPFO had supplied 8.25 per cent rate of interest on provident fund in 2011-12.
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