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Finance Ministry ratifies 8.5 per cent curiosity on EPFO deposits

The Union Finance Ministry has permitted the proposal by the Board of Trustees of the Workers Provident Fund Organisation (EPFO) to offer 8.5 per cent charge of curiosity for the deposits for 2020-21. A Labour Ministry official confirmed that the Finance Ministry has ratified the proposal on Friday.

 

The Board of trustees had determined proceed a decrease rate of interest of 8.5 per cent in March this 12 months. It lowered the speed to eight.5 per cent in 2019-20 from 8.65 per cent in 2018-19. This was the bottom charge since 2012-13.

The EPFO had supplied an rate of interest of 8.65 per cent in 2016-17 and eight.55 per cent in 2017-18. In 2015-16, the speed was 8.Eight per cent and eight.75 per cent in 2013-14. The speed of curiosity was 8.25 per cent in 2011-12.

 


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