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EPFO Fixes 8.5% Interest Rate For 2020-21 On Provident Fund Deposits

The central board recommended 8.50% rate of interest to its subscribers for 2020-21.

New Delhi:

The Employees’ Provident Fund Organisation (EPFO) has announced the interest rates on provident fund deposits for the financial year 2020-21 on Thursday, March 4. Labor Minister Santosh Gangwar told NDTV that the EPFO board has maintained 8.5 percent interest for 2020-21, the same rate fixed for the last fiscal 2019-20. The EPFO’s central board of trustees ​​held a meeting today in Srinagar today to decide the interest rate to be provident fund (PF) account holders in the financial year 2020-21. 

Last year, in March 2020, the retirement body had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 percent for 2019-20, from 8.65 percent in 2018-19.

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