EPFO to credit interest into 6 cr EPF accounts soon

Labour Minister Santosh Gangwar on Tuesday said that over 6 crore EPFO members will get 8.65 per cent interest for 2018-19.

Earlier, the Employees' Provident Fund Organisation's (EPFO) apex decision-making body Central Board of Trustees had decided to raise the interest rate on EPF to 8.65 per cent for the year 2018-19.

The EPFO is currently, paying an interest rate of 8.55 per cent for 2018-19 under EPF withdrawal claims. The 8.55 per cent interest rate on EPF deposits was fixed for 2017-18.

For 2018-19, EPFO had raised interest rate to 8.65 per cent, from 8.55 per cent provided in 2017-18. The EPFO had earlier reduced the interest rate for 2016-17 to 8.65 per cent as compared with 8.80 per cent for 2015-16. IANS