Employees' Provident Fund (EPF) Interest Rate Slashed from 8.5% to 8.1%

GUWAHATI: The Employees' Provident Fund Organisation (EPFO) which is regarded as the retirement fund body has decided to lower the interest on provident fund deposits for 2021-22 from existing 8.5 per cent to 8.1 per cent.

As per reports, in a meeting held on Saturday, the apex decision making body Central Board of Trustees has decided to provide an 8.1 per cent rate of interest on the Employees Provident Fund (EPF) for 2021-22.

The decision was taken during the meeting of the EPFO's central board of trustees, which was held in Guwahati.

Notably, there are around five crore subscribers of employees provident fund organisation (EPFO).

The board's recommendation will be sent to the finance ministry soon. The interest rate was 8.5 per cent in 2020-21.

In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.

The EPF interest rate provided for 2019-20 was the lowest since 2012-13 when it was brought down to 8.5 per cent.

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