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EPFO Expected to Increase Rate Ahead of General Elections
January 04, 2019
The Employees’ Provident Fund Organisation (EPFO) is likely to hike the rates in a few weeks which could benefit 60 million salaried employees covered under the scheme, three officials who are aware of the developments said. They had said that the organization will increase the rate, and if not, then it will at least keep it as it is, adding that the announcement is expected on February 1.
In 2017, the average interest rate of National Savings Certificate and Public Provident Fund was 7.7%. However, the same for short-term debt funds stood at 7.78%.
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