EPFO Keeps Interest Rate Unchanged for Next Fiscal

New Delhi: The Employee’s Provident Fund Organisation (EPFO) on Thursday kept the rate of interest on provident fund deposits unchanged at 8.5% for 2020-21 financial year.

The Central Board Trustee recommended 8.5% annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2020-21.

“A high EPF interest rate, along with compounding, makes a significant difference to gains of subscribers”, a release from the Ministry of Labour and Employment said.

It also added that the provident fund body has consistently followed a conservative approach towards investment and emphasized the safety and preservation of the principal first approach.

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