Tribune News Service
New Delhi, March 3
The Supreme Court has restrained courts across India from entertaining contempt petitions against the Employees Provident Fund Organisation (EPFO) and Centre
EPFO keeps PF interest unchanged at 8.5%
India
Updated: Thursday, March 4, 2021, 17:37 [IST]
New Delhi, Mar 04: The EPFO has fixed 8.5 per cent rate of interest on EPF deposits for 2020-21, news agency PTI reported.
Prior to this there were speculations that the interest rates on provident fund deposits may be lowered for the fiscal 2020-21. In March last year, the EPFO had reduced the interest rates on provident fund deposits to a seven year low of 8.5 per cent.
The interest rates is likely to be announced by the Employees Provident Fund Organisation on March 4. Reports suggest that the interest rates may be lowered owing to the pandemic. Last year after after reducing the internet rate on provident fund deposits to 8.5 per cent, the board had said that it would pay 8.5 per cent interest to its subscribers for the year ended March 31 in two instalments-8.15% from debt investments and 0.35% from equity.
The Central Board of Trustees (CBT) Employees Provident Fund Organisation (EPFO) has recommended 8.5 per cent annual rate of interest to member accounts for 2020-21. A meeting of the CBT held in Srina
EPFO liquidates equity outlay, retains 8 5% payout for FY21 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.