Government Likely To Notify 8.55 Percent Interest On EPF For FY18 This Week
NEW DELHI: The Finance Ministry has raised the issue of interest rates on a Job Provident Fund (PF) for the year 2017-18. The Finance Secretary has approved the Board of Directors of the EPFCO Board of Trustees to decide on the interest rate at 8.55 percent. If the Election Commission approves in the context of the Karnataka Election Code, the Union Labor Ministry official will announce. This will be allocated to the 5 crore subscribers who have PF accounts. This is going to be done this week. This is the lowest interest rate for the last five years.
The interest rate on fixed deposits of 8.88 percent in 2015-16 will be 8.65 percent in 2016-17 and 8.55 percent in 2017-18. However, recent reports have been made that the Finance Ministry is gripping the interest rate. But finally, the EPFOCO Board of Trustees approved the Finance Board. Have a look at this video.
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— Wisejay (@wisejayofficial) May 7, 2018