EPFO: The Finance Ministry has said that there is no loss of interest rate to EPF subscribers and there has been delay in depositing interest for the previous financial year due to software upgrade.
New Delhi: The Finance Ministry has said that there is no loss of interest rate to EPF subscribers and there has been delay in depositing interest for the previous financial year due to software upgrade. The ministry said that all outgoing shareholders seeking settlement and those withdrawing their deposits are being paid along with interest.
Ministry gave this information regarding interest
The ministry tweeted late on Wednesday, “There is no loss of interest to any customer. Interest is being credited in the accounts of all EPF subscribers. However, this is not visible in the statement due to a software upgrade being implemented by EPFO (Employees’ Provident Fund Organisation),” the finance ministry said in response to a tweet by IT industry veteran TV Mohandas Pai on Twitter. Spoken. Pai had questioned the interest in Employees’ Provident Fund deposits.
Interest on deposits at this rate
The ministry said, “All outgoing members seeking settlement and shareholders seeking withdrawal are being paid along with interest.” 8.1 percent interest was approved on EPF deposits for over crore subscribers.
