EPFO retains 8.5 per cent curiosity on EPF deposits for monetary yr 2020-21
1 min read The Central Board of Trustees of retirement fund physique Employees’ Provident Fund Organisation (EPFO) on Thursday saved the rate of interest for the monetary yr 2020-21 unchanged at 8.5 per cent.
The retirement fund physique has greater than 5 crore lively subscribers.
The announcement comes following huge withdrawals and lesser contributions over the last yr following the outbreak of the coronavirus (COVID-19) pandemic.
Speculations have been rife that retirement fund physique may take into account a decrease rate of interest on provident fund deposits for this monetary yr 2020-21 from 8.5 per cent in 2019-20, because of the influence of COVID-19 within the Indian financial system all through 2020.
