Just ahead of Diwali, Good news for over five crore subscribers of the EPFO

Govt approves 8.5 pc interest rate on EPF for FY21

Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO).

The 8.5 per cent rate of interest on provident fund deposits for the current financial year was decided by the EPFO’s apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.

A source said on Friday, “The rate of interest on EPF for 2020-21 has been ratified by the Ministry of Finance and now it would be credited into the accounts of over five crore subscribers.”

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