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EPF Interest Rate Hike Approved by Finance Ministry

April 29, 2019

EPF Interest Rate Hike Approved by Finance Ministry
An increment of the Employees Provident Fund (EPF) interest rate to 8.65% was approved by the finance ministry recently. The new rate will benefit over 60 million subscribers. 

A labor ministry official said that the finance ministry has accepted the interest hike that was proposed by EPFO which has a retirement corpus of ₹11 trillion. This marks a 10 bps increase from the 8.55% rate that was announced by the retirement fund manager for FY18.

Photo credit: Dr. PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY

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