Employees’ Provident Fund Organization – EPFO, giving Diwali gift to its subscribers, has issued instructions to pay 8.5 percent interest for the financial year 2020-21 on the amount deposited in Employees’ Provident Fund – EPF.
EPFO issued instructions in this regard to their respective offices late last evening.
Recently, the Finance Ministry had approved the proposal to give 8.50 percent interest on the amount deposited in EPF. The Union Ministry of Labor and Employment had proposed to give 8.50 percent interest on its EPF, which was approved by the Finance Ministry after long deliberations. This decision of EPFO will benefit about 25 crore subscribers of Provident Fund.
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