New Delhi: Labour Minister Santosh Gangwar said Tuesday that more than six crore members of the Employees’ Provident Fund Organisation (EPFO) will get interest at the rate of 8.65 per cent on their deposits for financial year 2018-19.
The Central Board of Trustees – the main decision-making body of the EPFO – had in February this year approved an interest rate of 8.65 per cent rate for the financial year as mentioned above. The proposal has been sent to the Finance Ministry for approval.
“Ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19,” Santosh Gangwar told reporters on the sidelines of a function here.
At present, retirement fund body EPFO is settling provident fund (PF) withdrawal claims at the interest rate of 8.55 per cent, which was approved for the 2017-18 fiscal.