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EPF Interest Rates 2021: EPFO Keeps Interest Rates Intact Mar 06, 2021, 13:46 IST The Central Board of Trustees of the Employees Provident Fund Organization (EPFO) on Thursday recommended that subscribers be given an 8.5% interest rate for PF contributions for 2020-2021, keeping the same rate as the previous year. The EPFO s central board of trustees, who met in Srinagar, ratified the rate after assessing earnings and financial positions. The decision was taken at the 228th meeting of the Central Board of Trustees, held in Srinagar under the chairmanship of Santosh Kumar Gangwar, Union Minister of State for Labor and Employment. EPFO s financial advisory panel had already met on Wednesday evening, March 3, and recommended the retirement fund body s board to retain the interest rate at 8.5%. ....
EPFO schemes extended to J&K, Ladakh thenorthlines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenorthlines.com Daily Mail and Mail on Sunday newspapers.
New Delhi, March 4 The Central Board of Trustees, EPF, in its meeting on Thursday recommended 8.5 per cent annual rate of interest to be credited on the EPF accumulations in members’ accounts for the financial year 2020-21. The meeting, presided over by Union Labour Minister Santosk Kumar Gangwar, was held in Srinagar. “Since FY 2014, EPFO has consistently generated returns not less than 8.5 per cent,” the Labour Ministry said, adding: “A high EPF interest rate, along with compounding, makes a significant difference to gains of subscribers.” “This is despite the fact that the EPFO has consistently followed a conservative approach towards investment, putting highest emphasis on the safety and preservation of principal first approach,” Gangwar said during the meeting. ....
The Employees’ Provident Fund Organisation (EPFO) has kept the interest rates unchanged on provident fund deposits at 8.5 per cent for financial year 2020-21. The announcement comes on the back of large withdrawals and fewer contributions through out the last year amid the coronavirus pandemic. There were speculations that the EPFO would lower interest on provident fund deposits for this fiscal (2020-21) from 8.5 per cent given in 2019-20, owing to the coronavirus-induced slowdown through 2020. The retirement fund body has more than 50 million active subscribers The decision was taken at the Central Board of Trustees (CBT) meeting, which is the main decision-making body of EPFO. The interest rate would be officially notified in the government gazette following which EPFO would credit the rate of interest into the subscribers’ accounts ....