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EPFO finalises 8.65pc interest for 2018-19: Gangwar

Press Trust of India  |  New Delhi 

Retirement fund body EPFO has decided to provide 8.65 per cent interest on PF deposits for 2018-19 against 8.55 per cent in the last year to its 6 crore subscribers, Santosh said Thursday.

All members of the (CBT) of EPFO at a meeting here agreed to give a higher interest for subscribers for the current fiscal, the said further.

The proposal would now go to the for approval, said after the meeting.

Earlier, highly placed sources had indicated that the interest on EPF deposits for this fiscal could be more than 8.55 per cent in view of impending

The (CBT) headed by is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.

Once approved by the CBT, the proposal requires the concurrence of the The interest rate is credited into the subscribers account after the Finance Ministry's approval.

The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18. The body had kept the interest rate at 8.65 per cent in 2016-17 and 8.8 per cent in 2015-16. It provided 8.75 per cent interest for 2013-14 as well as 2014-15. The rate of interest was 8.5 per cent in 2012-13.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 21 2019. 16:56 IST
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