Business Standard

EPFO slashes interest rates on deposits to 8.5%

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ANI General News

Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) has decided to decrease the interest rate of employees provident fund to 8.5 percent for 2019-2020, announced Labour Minister Santosh Gangwar on Thursday.

"Central Board of Trustees have decided to decrease the rate of employees provident fund to 8.5 percent for 2019-2020. Earlier it was 8.65 percent," Gangwar said.

The decision was taken during a meeting of the CBT which is the apex decision-making body of the EPFO.

The interest rate earlier was 8.65 percent.

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First Published: Mar 05 2020 | 2:28 PM IST

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