Retirement fund body, Employees' Provident Fund Organisation (EPFO) on Wednesday declared a cut in its interest rate to 8.55 percent for 2017-18 from 8.65 percent for 2016-17.
This was decided during the meeting of Central Board of Trustees of EPFO in Delhi today.
For 2016-17 the rate was 8.65 percent and in 2015-16 the rate was 8.8 percent.
In order to maintain the interest this fiscal, the organisation had sold a portion of its investment in the Exchange Traded Funds, ETF.
The body has approximately five crore members.
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