EPFO decides to credit part of 8.5% interest for FY20: Report

Retirement fund group EPFO on Wednesday decided to credit a part of 8.5 per interest on employees provident fund (EPF) for 2019-20 into the account of its around 60 million subscribers.

The decision to provide 8.15 per cent interest on EPF has been taken at the Employees' Provident Fund Organisation's (EPFO) trustees meet held on Wednesday, a source told PTI.

The remaining 0.35 per cent rate of interest on EPF for 2019-20 would be credited into the subscribers account in December this year, the source further said.

The EPFO had earlier planned to liquidate some of its investment in exchange