New Delhi: The Central government on Friday approved the reduction of interest rate on employees’ provident fund (EPF) deposits for 2021-22 from 8.5 per cent to 8.1 per cent.
The proposal to cut interest by 0.4% was made by EPFO in March this year. Now that the government has put the seal on it, it will affect around 5 crore subscribers of Employees’ Provident Fund Organization (EPFO).
This will be the lowest rate of interest on PF deposits in more than four decades.
The lowest rate of interest before this was 8% — in 1977-78.
EPFO had brought down interest rate on provident fund deposits to a seven-year low of 8.5% per cent for 2019-20 in March 2020, from 8.65% in 2018-19.
Keonjhar: At least 18 persons were injured as a private bus overturned reportedly due to…
Mumbai: A massive dust storm hit Mumbai on Monday, turning the sky black and grey,…
Bhubaneswar: The BJP has started sharpening its arsenals against Chief Minister and BJD president Naveen…
Sonepur: At least 20 people were injured after being attacked by bees during election campaign…
New Delhi: Much against Enforcement Directorate’s wish, Supreme Court the other day granted interim bail to…
Bhubaneswar: In another incident of violence during first phase of polling in Odisha on Monday,…
Bhubaneswar: BJD leader V K Pandian on Monday accused Union Minister and BJP leader Dharmendra…
Angul/Dhenkanal: Stepping up the attack on Union Minister Dharmendra Pradhan, BJD leader V K Pandian…