Govt approves 8.5% interest rate on provident fund for FY21

Govt approves 8.5% interest rate on provident fund for FY21 

The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said.

Just ahead of Diwali, this is a good news for over 5 crore subscribers of the Employees Provident Fund Organisation (EPFO).

The 8.5 per cent rate of interest on provident fund deposits for the last 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.

interest rate on provident fund

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."

In March last year, the EPFO had lowered interest rate on provident fund deposits to a 7-year low of 8.5 per cent for 2019-20, from 8.65 per cent in 2018-19.

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

The EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

It had given 8.75 per cent rate of interest in 2013-14 as well as in 2014-15, higher than 8.5 per cent for 2012-13. The rate of interest was 8.25 per cent on provident fund in 2011-12.

Source: https://timesofindia.indiatimes.com/business/wealth/savings-and-investment/govt-approves-8-5-interest-rate-on-provident-fund-for-fy21/articleshow/87363106.cms

नोट :- हमारे वेबसाइट www.indiangovtscheme.com पर ऐसी जानकारी रोजाना आती रहती है, तो आप ऐसी ही सरकारी योजनाओं की जानकारी पाने के लिए हमारे वेबसाइट www.indiangovtscheme.com से जुड़े रहे।
*****

Comments

This week popular schemes

ISRO NAVIC GPS App Download : Indian Regional Navigation Satellite System (IRNSS)

प्रधानमंत्री ग्रामीण आवास योजना लाभार्थी सूची 2021 Pradhan Mantri Gramin Awas Yojana List 2021

Good news for central government employees and pensioners

Himachal Pradesh Unemployment Allowance Scheme Online Registration

Happy Independence day 2022 स्वतंत्रता दिवस की हार्दिक शुभकामना

Booking of Air tickets by Central Government employees for LTC purpose by three Government owned firms viz. Balmer Lawrie, Ashoka Travels and IRCTC

Gharkul Awas Yojana 2022 महाराष्ट्र सरकार ने घरकुल योजना 2022 का शुभारंभ किया

NSDL Pan Card Status : Track PAN/TAN Application Status

Pragati Scholarship 2022-23 प्रगति स्कॉलरशिप 2022

Odisha Government Launched Kalia Yojana for Farmer