New Delhi: The Employees Provident Fund Organization (EPFO) has fixed an 8.5 percent interest rate on EPF deposits for 2020-21. Labor and Employment Minister Santosh Gangwar said that there has been no change in interest rates on PF in this financial year. PF subscribers will get interest on their deposits only at the previous rates. Let us know that the Central Board of Trustees (CBT) of EPFO has an important meeting in Srinagar on Thursday, in which this announcement has been made.
A press release from the Ministry of Labor and Employment has told that the Board of Trustees has kept the interest rates for 2021 only because ‘EPFO has earned income from debt and shares, due to which it is able to give higher returns to its subscribers. is.’
Last year, among the Corona virus, people had not received PF money, from above, Finance Minister Nirmala Sitharaman announced in the budget presented on February 1 to limit the exemption from tax on earnings on PF. Was done. In such a situation, everyone had an eye on what interest rates the government keeps for the next financial year.