Employees’ Provident Fund Organization (EPFO) has released the notification of EPF interest rate 2020-21 . Which you PF account holder was waiting for from last 7 months. Like last time, the EPFO department is going to give interest at the rate of 8.5% to the PF subscribers for the financial year 2020-21.
Which will benefit 6 crore+ PF account holders. In such a situation, this decision was taken on 4 March 2021 in the CBT meeting in Srinagar . After which it was sent for approval from the Ministry of Finance. It took so long to get the approval. Now let us know when will the interest money be credited in your PF account?
EPF Interest Rate 2020-21 Notification Pdf
The amount of PF interest is given by the EPFO department every year at the end of the financial year. The decision of which is taken in the CBT (Central Board of Trustees) meeting chaired by the Union Labor Minister. In this CBT board, there are representatives of the trade union on behalf of the workers, representatives of the owners on behalf of the corporates, representatives of the state and central government besides officials of the Ministry of Labor. Which together calculate the profit and loss of the previous year and decide the amount of interest for the PF account holders. Under which the EPF interest rate 2020-21 was announced.
EPF Interest Rate 2020-21 latest news
Your PF Interest Rate CBT meeting for the financial year 2020-21 was held on 4th March 2021 in Srinagar. In which 8.5% interest rate was announced for PF account holders. After which the CBT sent the pass resolution in the meeting to the Finance Ministry for approval. If the Ministry of Finance accepts the recommendation of CBT. Only after that the notification is issued by the APFO Department by order of the Ministry of Labor. Only after that the interest starts crediting in your PF account.
PF latest news in 2021
The Labor Ministry of the Central Government has officially announced the PF Interest 2020-21. The information of which has been given by tweeting by the official Twitter handle of EPFO. We have shared the notification copy of PF interest financial year 2020-21 at the end of this post. Which you can download and read by yourself.
EPFO issues instructions to credit interest of 8.5% for the year 2020-21 into some 25.0 crore accounts of members with EPFO. Check circular here: https://t.co/778pixxyXp
@LabourMinistry @esichq @PIBHindi @PIB_India @FinMinIndia @wootaum— EPFO (@socialepfo) November 1, 2021
To which Abhay Ranjan, Additional Central PF Commissioner (Investor) 30.10. Released in 2021. Through this notification, he has issued instructions to all the zonal and regional in-charges. The Ministry of Labor and Employment, Government of India has approved the rate of interest of 8.5% for the financial year 2020-21 to all the members under Section 60(1) of the EPF Scheme 1952, as per the instructions of the Central Government. According to which, necessary steps should be taken to credit the interest money at the above rate in the PF account of all the members as soon as possible.
