The central government can take a big decision soon regarding the interest received on the PF account. In this regard, Labor Minister Bhupendra Yadav has given a big update in the Central Government.
New Delhi : For the financial year 2021-22, all the account holders are waiting for the interest to be received on the amount deposited in the PF account. The central government can take a big decision soon regarding this. The Central Board of Trustees (CBT) is going to hold a meeting in Guwahati next month regarding this. In this meeting, a big decision can be taken on the interest rate available on PF account.
Central government minister gave this big update
In the Central Government, Labor Minister Bhupendra Yadav has recently shared important information regarding the interest received on the amount deposited in the PF account. He said in a statement that the decision to increase the interest rate on the deposited PF balance for the financial year 2021-22 will be taken on the basis of the estimate of income for the next financial year. It is worth noting that Bhupendra Yadav is also currently the head of the Central Board of Trustees (CBT).
Interest rate was reduced last year
In the financial year 2020-21, the interest rate on the amount deposited in the PF account was reduced to 8.5 percent. Finance Minister Nirmala Sitharaman approved this decision in October 2020.
After this decision, the interest rate on PF had reached the lowest level. Earlier in the financial year 2018-19, EPFO had given 8.65 percent interest. Earlier, in the financial year 2013-14, the interest rate was reduced to 8.75 percent.
