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EPFO Likely to Slash Interest Rate for FY18
November 30, 2017
Retirement body EPFO is planning to cut the interest rate on the PF deposits in the current financial year that will affect its 4.5 crore subscribers who got a rate of 8.65% in the previous fiscal.
According to an official from the labor ministry, Employees’ Provident Fund Organisation (EPFO) is likely to lower the interest rate on the basis of the fact that it’s crediting the exchange trade funds (ETF) units directly into the PF accounts. They also said that EPFO is yet to plan the income projection for the financial year which may affect the rate of interest.
