The EPFO Central Board recommends 8.50 % rate of interest to its subscribers for the year 2020-21
Central board of Trustees of EPFO recommends 8.50% annual rate of interest on Employee Provident Fund for the financial year 2020-2021 in the 228Th Meeting held today at Srinagar.
Union Minister of State for Labour & Employment (Independent Charge) Shri Santosh Kumar Gangwar was chaired the meeting and EPFO interest will be credited into subscribers account once it notified officially as they told in press meet.
From financial year 2014 onward EPFO rate of interest remain unchanged and this year specially keeping Covid-19 effect in mind there were many fund withdrawals to meet subscribers needs and may expected further till March 31st.
EPFO is one of the best options for employees whose investment is safe and gets fixed return and also employee and employer both contributes 12% on basic salary toward the corpus. This interest is reviewed every year before start of Financial year by Central board of trustees of EPFO along with other exemptions