Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited to several subscribers.
New Delhi: The 228th meeting of the EPFO central board of trustees (CBT) to be held on March 4 may have some bad news in store for PF subscribers. As per a report in a Business daily, Employees’ Provident Fund Organisation (EPFO) subscribers are likely to get lesser interest rates for their PF in FY 2020-21.
The Economic Times, quoting official sources said that the move may be necissiated following huge withdrawals and fewer contributions in the aftermath of the COVID-19 pandemic. EPFO has written a letter to the members of CBT apprising them about March 4 meeting.